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Explain, using the AD-AS schedules, the effect of lifting the Covid restrictions on U.S. prices and economic activity. Also, use AD-AS schedules to explain the

Explain, using the AD-AS schedules, the effect of lifting the Covid restrictions on U.S. prices and economic activity. Also, use AD-AS schedules to explain the subsequent response of monetary policy and the associated effects on both prices and economic activity. Be explicit about what it means to change monetary policy and all the transmission channels of such a change

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