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The current level of unemployment is caused by Covid-19 does not easily fit into the main types of unemployment. It is likely that we have
The current level of unemployment is caused by Covid-19 does not easily fit into the main types of unemployment. It is likely that we have a shift both in aggregate demand and in aggregate supply. You are required to draw an appropriate diagram with employment on the vertical and national output on the horizontal axes illustrating the drop in nationaloutput and employment (rise in unemployment) Discuss how the shift can be reversed. (Question is to be answered from the context of UK)
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