Question: Describe the AD-AS model and evaluate its importance in explaining economic fluctuations. In response to the economic impacts of Covid-19, the Congress passed various economic

Describe the AD-AS model and evaluate its importance in explaining economic fluctuations. In response to the economic impacts of Covid-19, the Congress passed various economic relief programs including stimulus checks to individuals, Paycheck Protection Program (PPP) to businesses, and emergency funding to state and local governments. Explain what the Congress and the government intended to achieve, using the model of aggregate demand and supply. Evaluate the effects of government response to Covid-19 on economic growth, unemployment, and inflation

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