Deluge Continues: 26 Million Jobs Lost in Just 5 Weeks
Questions
- In which sector of the economy were job losses initially concentrated?
- During the COVID-19 pandemic, is there a movement along the production function, a shift of the production function or a movement below the production function?
- During the COVID-19 pandemic, is there a decrease in aggregate demand, a decrease in aggregate supply, or a decrease in both?
- Provide a reason for your answer to #3.
- Draw a diagram to illustrate your answer to #3.