Explain How The Following Events Would Affect The Economy Draw An Aggregate Demand And Aggregate Supply Graph Illustrat 1 (68.49 KiB) Viewed 11 times
Explain How The Following Events Would Affect The Economy Draw An Aggregate Demand And Aggregate Supply Graph Illustrat 2 (34.33 KiB) Viewed 11 times
Explain how the following events would affect the economy. Draw an Aggregate Demand and Aggregate Supply graph illustrating and explain how each event would affect Price Levels and Real GDP. (3 x 4 marks each = 12 marks) 1 1. The government announces that it will spend 500 million dollars this year to upgrade to 5G high speed internet in rural areas. 2. In order to increase the size of the labour force, the government raises the retirement age from 60 to 65, and changes regulations that will allow more foreign workers to apply for jobs.
to 3. Imports during the past year totalled 120 billion. Exports totalled 90 billion.
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