Not really, because in both cases there was a decline in production and employment.
3% (3 votes)
Yes, because the Covid-19 crisis is caused by a different kind of shock and produces much higher inflation.
97% (95 votes)
Total votes: 98
Understanding the concepts of supply and demand.
Understanding market equilibrium.
Understanding the effects of a demand shift.
Understanding the effects of a supply shift.
Understanding the difference between a demand curve shift and a movement along a demand curve.
Understanding the difference between a supply curve shift and a movement along a supply curve.
Understanding how a supply and demand model can help us understand economic crises.