How did the large decrease in aggregate demand during the first and second quarters of 2020 affect real GDP and the price level? Explain how and why the spread of the Coronavirus made an impact on consumer and business investment spending as well as overall aggregate demand?
Aggregate demand/ Aggregate supply model How did the large decrease in aggregate demand during the first and second quarters of 2020 affect real GDP and the price level? Explain how and why the spread of the Coronavirus made an impact on consumer and business investment spending as well as overall aggregate demand? Be specific.