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During the covid-19 pandemics, many factories are partially or completely closed. What kind of shock does this represent? Use classical (RBS) IS-LM-FE model to show
During the covid-19 pandemics, many factories are partially or completely closed. What kind of shock does this represent? Use classical (RBS) IS-LM-FE model to show the effects on the economy of this shock. You should show the effects of this shock on the real wage, employment, output, the real interest rate, consumption, investment, and the price level. Explain and use graphs to answer this question.
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