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1. What was the effect of the pandemic on the economy in the short run (think 2 years from the start of the pandemic)? 2.

1. What was the effect of the pandemic on the economy in the short run (think 2 years from the start of the pandemic)?

2. How did governments (fiscal and monetary authorities) respond intially to the lock downs?

3. Describe the effect of the interaction between fiscal and monetary policy in the short run.

4. Describe the effect of the interaction between fiscal and monetary policy in the long run.

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