In our class we talked about impacts of COVID on the Canadian economy. by referring to...

In our class we talked about impacts of COVID on the Canadian economy. by referring to the class discussion explain possible impacts of COVID on AD and SRAS and appropriate polices for dealing with the problem.

Expert Solution

Canadian economy is moving to recession due to the outbreak of corona virus. The GDP rte fell down to 2.6 percent. Almost fifth of the population avail an emergency fund which established by the government to counter the adverse economic impact due to this outbreak. There are several programmes were implemented to raise the recession path to a normal one. The interest rates were cut down by efficient fiscal intervention. This lowering rate was also due to increasing money supply in the economy. This helps the businessman to increase their activities, which will not help the maintenance of normal investment needs and economic activities. The increasing level of lockdown restrictions leads to decreasing level of the economic balances. The policies taken to maintain the economic stability, but there is high level of uncertainty prevail among the authority.
In every economy there is uncertainty among the policy makers about the end of this corona outbreak. This affects the future economic growth and the economic policies. This uncertainty shatters the growth rate and future investment. The production process fall down with respect to the fall in investment. This will reduce the demand and supply in the market. Canadian economy tried to maintain their stability through different programmes, but not anyone will give proper results. So the economy again and again moving towards recession.

Rahul Sunny answered 2 years ago

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