Principles of Economics Term Paper: The Impact of COVID-19 on the Economy Introduction The year 2020 is a year many people will not soon forget. The year 2020 changed the way people view everything. During the year 2020, the COVID-19 pandemic spread all over the world. This global pandemic affected every aspect of life, including the economy. According to (orange source), the United States, the largest economy in the world, had a reduction in gross domestic product (GDP) of around 3.4% in 2020 (orange…
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