1. What was the short run impact on real GDP? That is, what happened to theshort run equilibrium real GDP(Y)?
2. Based on real GDP, what happened tounemployment?
3. To help alleviate some of the economic issues caused by COVID, Congress passed an economic relief package of over $2 trillion which provided monetary aid to families and businesses.Using the AD-AS (aggregate demand and aggregate supply) model,which curvedid the relief package shift and inwhich direction?
4. In the long run equilibrium, what happens to thelong run price level