In the video uploaded on the website of BNP Paribas, an investment bank, their Chief Economist, Dr. William De Vijlder, discussed the impact of the COVID-19 on the global economy. Watch a 3 min short video of his speech posted on Moodle: The economic consequences of the coronavirus (extracted)1 and answer the following questions.

https://drive.google.com/file/d/1qrp7QswmuuEKFrlDQB7_FPoKw4itKSis/view?usp=sharing

(a) Summarize the demand and/or supply shocks resulted from the COVID-19 pandemic. (10%)

(b) Discuss, with the aid of an AD-AS diagram, the economic impacts of COVID-19. (10%)