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Use the IS-LM, AD-AS and the PS/WS model to illustrate and explain the possible effects of the current COVID-19 pandemic on an economy like the

Use the IS-LM, AD-AS and the PS/WS model to illustrate and explain the possible effects of the current COVID-19 pandemic on an economy like the US or the Japanese economy for example. Discuss what tools are available to either the government or the central bank in order to stimulate the economy and which policies are possibly more effective in this situation.

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