Find the impact on the steady state values

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(Econ) For each of the following scenarios find the impact on the steady state values of y and h, by identifying and explaining the shift(s) of the curve and the direction of the shift(s).

1. COVID-19 leads to deterioration of average health of the population and causes widespread unemployment due to firms shutting down their operations

2. In order to reduce the adverse impact of COVID-19, the government starts offering subsidy to the production sector and arranges vaccine for the population. 3. Population becomes more healthy in per capita sense due to the awareness of health benefits of improved hygiene which on is turn raises output per capita in the economy

Reference no: EM133080485

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