2020
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
$2 trillion
|
|
|
$7 trillion
|
|
|
$8 trillion
|
|
|
$10 trillion
|
Detailed explanation-1: -Summers published a brief article in JAMA Viewpoint estimating that COVID-19 would cost the United States $16 trillion dollars, when combining economic damages and monetized health and life loss.
Detailed explanation-2: -International trade plunged in 2020 but recovered sharply in 2021. While total trade flows are now comfortably above pre-pandemic levels, trade impacts across specific goods, services and trade partners are highly diverse, creating pressures on specific sectors and supply chains.
Detailed explanation-3: -In the current financial year, output loss due to the pandemic is seen further declining to Rs 16.4 lakh crore. In total, Rs 52.6 lakh crore of GDP has been lost in three years – or 12 percent of the actual GDP.