1. The article says that international supply-chain constraints have now eased. In terms of aggregate supply (AS), explain how these supply-chain constraints would have affected the macroeconomy during the pandemic and lockdowns. (You do not need to draw a diagram.) (2 marks)
2.  After the lockdowns were eased increased consumption spending was a key driver of economic growth. Explain the effect this had using the AD/AS model. (You do not need to draw a diagram.) (2 marks) 
3. At the end of the article, it is stated that "GDP growth will come to a standstill next year" because of higher interest rates. Identify the corresponding stance of monetary policy and explain the effect of higher interest rates on the macroeconomy. (3 marks)
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6. Source: https://www.abc.net.au/news/2022-12-07/gdp-increases-0-6-per-cent-in-september-quarter/101742812)

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