Question: What does the AS-AD analysis look like for the U.S. in the period before the COVID shock hit? That is, where is Point A on

What does the AS-AD analysis look like for the U.S. in the period before the COVID shock hit? That is, where is Point A on the AS-AD graph?Be sure fully explain why you have modelled Point A (time 0) as you have. Your explanation should address the unemployment, output, and inflation/deflation dynamics at the time as well as considering the components of aggregate demand.

Price LRAS LRAS2 Level SRAS, SRAS2 A P1 = P2 AD1 AD2 Q1 Q2 Real GDP

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