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The COVID-19 pandemic has created well-publicized Supply-chain issues. In other words, the pandemic has made it much more difficult for US producers to get parts
The COVID-19 pandemic has created well-publicized "Supply-chain issues." In other words, the pandemic has made it much more difficult for US producers to get parts and materials they use to produce their products, particularly those from overseas. Use Aggregate Demand-Aggregate Supply analysis to explain the effect of supply-chain issues on equilibrium GDP, unemployment rate, and price level. What shift in Aggregate Demand or Aggregate Supply occurred because of the supply-chain issues? How does that shift create the changes we see in GDP, unemployment, and inflation? Be sure your explanation is complete and fully explains what-causes-what by placing events in the proper sequence
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