Using the Aggregate Demand-Aggregate Supply (AD-AS) Model and the Aggregate Expenditure (AE) Model consider the impact that COVID-19 has had on the Singaporean economy. Specifically address each of the dot points provided below:

• Illustrate the impact of the crisis on the domestic economy using both the AD-AS model and the AE model. Ensure you clearly label all parts of both the diagrams and show any change from the original equilibrium positions.
• Discuss the assumptions reflected in your models that explain the resulting final equilibrium positions demonstrated.
• What does the change in equilibrium position entail for the Singaporean economy's economic performance? To support your answer draw upon relevant evidence concerning any changes in an economic performance captured by reported key macroeconomic aggregates including economic growth, unemployment and inflation that compare pre-pandemic and post-pandemic outcomes. Be sure to cite any sources of evidence you use to support your claims. Comment on the extent to which the real-world evidence is consistent with model predictions.Hint: data from assignment 1 may be used to support your analysis along with data/statistics reported from reputable sources such as the Department of Statistics Singapore (SingStat)