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QUESTION TWO [40] 2.1 Analyse and demonstrate with the aid of a diagram, the main economic phenomenon that supply shocks can lead to in terms
QUESTION TWO [40] 2.1 Analyse and demonstrate with the aid of a diagram, the main economic phenomenon that supply shocks can lead to in terms of the Phillips Curve model. Provide contemporary examples to enhance your answer. (20) 2.2 The Covid-19 pandemic has led to many economies experiencing a slowdown in economic activity. Two main types of unemployment can arise as a result of the Covid-19 pandemic. Determine and discuss these two main types of unemployment. (20)
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