Summer 2020 For all questions below, all work and calculations must be shown. It is not enough to simply show the answer. You may consult other students in the class for help, but you must submit your own work. 1 Aggregate Demand and Aggregate Supply 1. Identify whether the following is a real shock or a aggregate demand shock, and whether it is positive or negative. . Due to increased fears regarding unemployment, consumers are discouraged from spending and more people save. . A potential vaccine for Covid-19 has demonstrated successful testing results. Thus individuals feel less worried given the prospects of reduced lockdown measures and increased immunity to the Coronavirus. . War destroys factories and much of a nationas productive capacity. . New technology improves medicine and reduces the time it takes to test the efficacy of new drugs