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Answer the questions 1-4 according to the case described below. Currently due to the Corona Virus, consumers are staying at home, which is expected to
Answer the questions 1-4 according to the case described below. Currently due to the Corona Virus, consumers are staying at home, which is expected to decrease the aggregate demand in the economy. Meanwhile, workers also stay at home and work from home, or precautions should be taken for the workers who still continue to work at workplace. Assume this factor did reduce the aggregate supply in the economy.
2) How does the demand and supply shocks affect the output and price levels?
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