Business, 13.04.2021 04:30 unknownyobutt21

War destroys an economy, but so does civil unrest and government mismanagement. Venezuela falls into the second category, but looking at the aggregate time series you couldn't really tell they were not in the middle of war. Since 2002 around 3.5 million Venezuelans immigrated from their country. Since 2013 GDP per capital has halved, and the capital stock has started to be depleted (negative growth). Required:
a. Please describe the path of the economy after the events you simulated.
b. How long will it take for the economy to reach the steady state?
c. What are the welfare consequences of national unrest?

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War destroys an economy, but so does civil unrest and government mismanagement. Venezuela falls into...