Interview with Andrew Bailey, Governor of the Bank of England, on Q.E.

The video discusses the impacts of fiscal policy on unemployment and the potential long-term economic changes due to COVID-19. It highlights the importance of minimizing structural changes in the economy to avoid long-term unemployment. The discussion also covers potential permanent changes in the economy and the need for economic adjustment. Historical context is provided by comparing past sectoral shifts, such as the decline of heavy manufacturing and coal mining, to current potential changes within service industries.

What is the primary focus of fiscal policy in the context of COVID-19 as discussed in the video?

• Increasing government revenue

• Reducing unemployment

• Enhancing international trade

• Promoting technological innovation

What is a key concern regarding the long-term effects of COVID-19 on the economy?

• Rise in global oil prices

• Increased inflation rates

• Permanent changes in business operations

• Decreased foreign investments

How might COVID-19 affect consumer behavior according to the video?

• Increase in physical store visits

• Shift towards online shopping

• Decrease in overall spending

• Preference for luxury goods

What historical economic shift is mentioned as a comparison to the current situation?

• The growth of the automotive industry

• The expansion of the agricultural sector

• The decline of heavy manufacturing

• The rise of the digital economy

What is the anticipated economic adjustment due to COVID-19 as per the video?

• Redistribution within service industries

• A shift from services to manufacturing

• A focus on heavy industry

• A move towards agricultural dominance