How the 9/11 Attack Had Impacted on the Macroeconomic Level of the U.S.

Project 1

Part 1

To begin with, the purpose of my essay is to give the general information about the 9/11 attack as well as reveal how the 9/11 attack had impacted on the Macroeconomic level of the U.S.

Part 2

Four coordinated terrorist attacks carried out by al-Qaeda that occurred on the morning of September 11, 2011. On that morning, 19 terrorists from al-Qaeda hijacked four commercial airplanes, two of four airplanes intentionally crashed the North and South towers of the World Trade Center complex and a third plane crashed into the Pentagon. Besides, on the fourth hijacked plane, passengers fought back to the terrorist and the plane was crashed into a field.

The terrorists attacked World Trade Center, which symbolized globalization and America’s economic power and prosperity because they hoped that it would help them promote widespread fear throughout the country and supporting their political and religious goals in Middle East. (National September 11 Memorial & Museum, 2006)

This attack caused huge damages to America. Some reports estimated the cost already exceed $100 billion. For instance, the loss of four aircraft were about $385 million, the destruction of the North and South towers at World Trade Center cost from $3 billion to $4.5 billion, the damaged caused by aircraft to the Pentagon was around $1 billion and many other fee. (The Institute for the Analysis of Global Security,)

Part 3

The attack had a relative damage to America nation’s resources. Firstly, relating to labor, total number killed in attacks ware 2819. The majority of them were employees who killed in the Tower One and Tower Two. (Quinnipiac University, 2012). Additionally, within the city, there were about 430000 lost job months and loss in wages of $2.8 billion. (Micheal & Solidelle, 2004). Some documents suggest that the 9/11 attack caused immediate increase in forecasted unemployment 0.11-0.15%. Hence, after calculating using labor force statistics that the...