Question

Florence was surprised to learn about the government assistance offered to small businesses in her country’s market economy in early 2020 due to the COVID-19 pandemic. What assistance did the government provide to small businesses during the pandemic? (1 point) Emergency food supplies Free storefronts Emergency loans Merchandise invoice extensions te Item 6 Item 7 Item 8 Item 9 Item 10 Item 11 Item 12 Item 5 b      

Answer 1

During the COVID-19 pandemic, the federal government provided emergency assistance to small businesses including grants and tax breaks, expanded unemployment insurance, and aid to state and local governments, with the aim of supporting the economy and preventing widespread business closures.

Step-by-step explanation:

Florence was surprised to learn about the government assistance offered to small businesses during the COVID-19 pandemic in 2020. The federal government provided several forms of support to help businesses cope with the economic downturn caused by the pandemic.

Among the measures were expanded unemployment insurance, aid to state and local governments, grants and tax breaks for small businesses, and significant stimulus checks sent to households. Although these measures were broadly supported by policymakers, there were debates over the size and target of the stimulus checks, leading to compromises.

Despite these efforts, many restaurants and small retailers experienced steep drops in revenue, and some businesses were forced to close. The assistance provided was aimed at correcting the aggregate demand shock by helping businesses to survive and keep their workforce employed through direct financial support.