Massive Layoffs of Employees
Everyone has to buy groceries to feed not only themselves but family as well. If we go by our list of terms we must first look at the unemployment. Hopefully you are one of the lucky ones that has a job and can buy the things they need. If not the government will provide those who have no means with food stamps. This is again taken out of our paychecks weekly in the form of taxes. If you have a job and you are buying the goods on your own then the price of these goods is what you will be looking for as well as what the state tax is you live in. Groceries will go up and down at different times of the year, in the summer and fall fruit my become cheaper then it would be in the winter. This is because some goods are seasonal and they will be cheaper then. This will effect the GDP on those goods by how much we buy yearly.
Massive layoffs of employees
When the economy is poor then companies suffer as much as the public does. If they can not afford the employees to staff to make the product then they can not get the product out and there for will make no money. Those people who are unemployed already have a hard time buying goods so those of us that are lucky enough to have a job can not support the demand the company needs to stay open and employee the people to produce the goods. When the economy is poor it is a vicious cycle that effects not only the companies but the public as well.
Decrease in taxes
A tax decrease is something that will likely boost up the economy. If the taxes are reduced it means people will have more money to spend on things there by improving the GDP and economy. This can be seen today with the recent tax increase in our paychecks at work. We now are bringing home less then normal so now we can not spend the little extra we had making the economy harder and slower to build back up. When we see a decrease in taxes we have more money this means it will