Question 31 (1 point) The economy of Canada experienced a recession in 2020. How can the AS-AD model account for this recession, considering the outbreak of the the novel corona- virus? This outbreak has led to a drastic downward shift in the aggregate demand, because many buyers prefer to stay in their homes these days. This outbreak has led to a drastic shift in the aggregate demand to the left, because many buyers expect a significant fall in their wealth after the markets crashed in the last few weeks. This outbreak has led to a drastic downward shift in aggregate supply, since a major part of the labor force is now required to stay home. All of the choices are correct