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Use the WS/PS model to illustrate and explain in some detail what has happened to the USeconomy as it has recovered from the effects of
Use the WS/PS model to illustrate and explain in some detail what has happened to the USeconomy as it has recovered from the effects of COVID-19 until July 2022 where the unemployment rate was at 3.5%. In your diagram, begin the economy in July 2020 where pandemic containment policies cut global production which led to an unemployment rate of 10.2%.Also, assume there was a strong positive productivity growth over the 2-year period of inquiry.
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