Explain what caused it to occur during the pandemic. Explain to your client in simple language how each shock caused a shift in AD or SR-AS, and how this consequently affected economic output (Y) and price pevel (P) in this country’s economy.
Macroeconomics 1 What has been the impact of the COVID-19 pandemic on the economy? Identify two specific ways that the COVID-19 pandemic shocked the economy at some point during the COVID-19 pandemic, applying your AD-AS model. The shock could have occurred at any point of the pandemic. For each of the two shocks that you […]