Part a) Illustrate the impact of corona virus induced supply side disruption of the Singaporean economy using AD-AS model. Assume, economy was initially in good shape, operating at its potential

Suppose there is no monetary policy intervention (or fiscal action) to address the fallout of the shock (as described in part a). In the absence of any policy intervention, what type of free market adjustment would need to occur for the economy to eventually return to Y*? Hint: start from the scenario you illustrated in answer to part a