Question
Covid-19 pandemic has impacted almost all countries in the world. According to Bank Negara Malaysia, Malaysian economy is expected to contract by 2% this year.
Covid-19 pandemic has impacted almost all countries in the world. According to Bank Negara Malaysia, Malaysian economy is expected to contract by 2% this year. However, echoing to the current outlook for Malaysia, the World Bank has revised its initial 4.5% growth forecast for 2020 down to only 0.1%. On the employment front, the Malaysian Institute of Economic Research estimates that about 2.4 million may lose their jobs.Please explain in detail how could covid-19 affect Malaysian economy. It must include aggregate demand and aggregate supply, please explain in detail how could covid-19 affect Malaysian economy and trade off between inflation and unemployed
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