Consider the scenario:

Difficulties in shipping goods led to a decrease of U.S. exports. For more information on export dynamics during the COVID crisis, see the FRED series EXPGS (https://fred.stlouisfed.org/series/EXPGS)

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A. Describe the economic effects of this particular event. You may use either the short-run or AS/AD model to motivate your reasoning, but be sure to clearly state how the particular event you chose enters into the model. For full credit, you must explain the impacts on short-run output (), inflation (), investment ( I), consumption (C), and the unemployment rate (u). Additionally, for full credit, include both graphical and mathematical analysis in your response. B. Describe the appropriate policy response to this particular event. How might policymakers (fiscal and/or monetary) respond to alleviate the economic effects? Give a justification for your answer through the lens of the model you chose. Additionally, provide a real-world example of such a policy in the context of the policy response to the COVID crisis in the U.S. A. Describe the economic effects of this particular event. You may use either the short-run or AS/AD model to motivate your reasoning, but be sure to clearly state how the particular event you chose enters into the model. For full credit, you must explain the impacts on short-run output (), inflation (), investment ( I), consumption (C), and the unemployment rate (u). Additionally, for full credit, include both graphical and mathematical analysis in your response. B. Describe the appropriate policy response to this particular event. How might policymakers (fiscal and/or monetary) respond to alleviate the economic effects? Give a justification for your answer through the lens of the model you chose. Additionally, provide a real-world example of such a policy in the context of the policy response to the COVID crisis in the U.S.