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Changes in Aggregate Demand and Aggregate Supply

Changes in Aggregate Demand and Aggregate Supply

Q The following article from The Conversation, Relief or Stimulus: What’s the Difference, and What It Means for Biden’s $1.9 Trillion Coronavirus Package, discusses the 2021 $1.9 trillion COVID-19 aid package. Pay attention to the description of the need of the financial package. The COVID-19 pandemic affected both aggregate supply and aggregate demand. The article should allow you to apply the concepts from this week's lessons to the economic reality of the COVID-19 pandemic. Discuss an example of a shift in either aggregate demand or aggregate supply that you observed in the last year. (Remember, don't focus on one particular market. Discuss the total demand or supply affecting all markets in the economy.) Discussion Expectations Your discussion post should fully answer the prompt above (due 11:59 p.m. CST Wednesday). Then respond to at least two of your classmates' posts by 11:59 p.m. CST Sunday. Visit the Start Here module page Discussion Criteria to view specific discussion requirements, examples, and the discussion rubric.

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In the last year, I observed that both the aggregate demand and aggregate supply declined too much but in this discussion, I discuss how aggregate demand decreased during the COVID 19 pandemic. During the COVID 19 pandemic, most of the countries' governments took precautions and declared a lockdown for a certain period of time. Due to the lockdown, all sectors except health care sectors were partially closed or completely closed for certain periods, and for that, all the processes for the production of goods and services were stopped partially or completely.