1. Using the AS-AD model, graph and explain the effects of Covid-19 on the U.S. macroeconomy by comparing 2019 vs. 2020. Label the years on all curves, the axis, and the equilibrium. Ignore macroeconomic policy responses, such as the CARES act. Which curves shifted which direction, and why?   2. Now introduce any macroeconomic policy response. What curves shift which direction, and why?     3. What were the equilibrium quantities for both axis?

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Q: 9. Use an AD/AS model to show what happens if there is a) a decrease in consumption spending b) a…

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Q: A. What would happen on the As-AD model if the government put forward and pass a $2 trillion…

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Q: Discuss the views of Adam Smith relative to the how the fundamentals of the macro economy work.…

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Q: The Covid-19 crisis and lockdown has been a supply-side shock to the South African economy. In…

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Q: did keynes believe that wages/prices were sticky in general-up and down? or just down?

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A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: please correct the statement if it false, or if it is true justify why its true

A: AD-AS (Aggregate Demand-Aggregate Supply) model is a macroeconomic model that explains the level of…