Tying it all together. The COVID-19 Pandemic affected all parts of the economy. But let's focus on how the orders from many state and local governments to stay at home affected consumers. This resulted in consumers not spending as much money at bars, restaurants, movie theaters, and sporting events. It also meant that many workers who worked in those industries lost income, which reduced their spending on goods and services dramatically. Each of the following is worth 3 points, so 9 points total. 1, Which expenditures component (C, I, G, X, M) was affected? (Define what each of the variables is, and then why you selected your answer) 2. Describe the affect on the AS / AD graph? (Explain, including the impact on Real GDP, inflation, and unemployment) 3. How did actions by the Fed (monetary policy) and Government (fiscal policy) attempt to influence the AS / AD graph? (Explain which curve shifts, the direction it shifts ,and how the policy caused the shift to occur)