Describe the likely short-run and long-run economic consequences of the COVID-19 pandemic and the associated lockdowns. In each case suggest and discuss appropriate economic policies to deal with these consequences, indicating how effective the policies are likely to be and how quickly they are likely to work.Describe the likely short-run and long-run economic consequences of the COVID-19 pandemic and the associated lockdowns. In each case suggest and discuss appropriate economic policies to deal with these consequences, indicating how effective the policies are likely to be and how quickly they are likely to work