During the 2020 covid-19 pandemic, the government of Canada introduced many policies to help control the spread and support families and business. The policies included wage subsidies, CERB ($2000 payout to individuals), closing of all non-essential business among others.

1. Using your knowledge in macroeconomics, analyze the impact of the pandemic and policies on the Canadian economy. How did it affect the short and long run output in Canada?

2. A vaccine is secured in 2021, most people are vaccinated against covid-19, how will your answer in "a" change?