Question: Given the above data, would you conclude that the Pandemic Recession was primarily driven by declining Aggregate Demand or Declining Aggregate Supply? Defend your answer.

Given the above data, would you conclude that the Pandemic Recession was primarily driven by declining Aggregate Demand or Declining Aggregate Supply? Defend your answer. Hint: You should "de-trend" the data by comparing the 2019-2020 changes to changes in the earlier years

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