Question 1 According to the Association of Employment Agencies, Malaysia still lacks many workers needed to...

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Question 1 According to the Association of Employment Agencies, Malaysia still lacks many workers needed to sustain various sectors' needs post-pandemic. Labor demand is critical in several sectors, especially construction, agriculture, services, and manufacturing, which are crucial to jumpstart the country's economy. The construction sector lacks about 300,000 workers, agriculture about 230,000 workers, whereas manufacturing about 100,000 to 200,000 workers. The service sector also lacks about 100,000 workers. Therefore, it is estimated at least 800,000 to a million workers are needed. In addition, the Malaysian Employers Federation (MEF) is urging the government to address the labor shortage in the country, especially in the palm oil industry which is continuing to experience losses for planters and the nation, due to an acute shortage of manual harvesters. MEF reported that the palm oil industry may not be able to compete with our neighbors because of the higher cost of sales and wastage here. MEF added that the construction sector in the country is also facing a serious shortage of workers causing some major projects to fall behind schedule. Industries such as electrical and electronics, furniture, and agriculture are also facing the same issue. With domestic tourism and food and beverage outlets reopening as the country enters the recovery phase. Required: A) B) Discuss how can government use suitable policies to stimulate the economy. (5 Marks) Briefly address THREE (3) main thrusts of the government and how government enables the Malaysian economy to recalibrate, rebound and recover after the COVID- 19 Pandemic. (10 Marks) (Total: 15 Marks) Question 1 According to the Association of Employment Agencies, Malaysia still lacks many workers needed to sustain various sectors' needs post-pandemic. Labor demand is critical in several sectors, especially construction, agriculture, services, and manufacturing, which are crucial to jumpstart the country's economy. The construction sector lacks about 300,000 workers, agriculture about 230,000 workers, whereas manufacturing about 100,000 to 200,000 workers. The service sector also lacks about 100,000 workers. Therefore, it is estimated at least 800,000 to a million workers are needed. In addition, the Malaysian Employers Federation (MEF) is urging the government to address the labor shortage in the country, especially in the palm oil industry which is continuing to experience losses for planters and the nation, due to an acute shortage of manual harvesters. MEF reported that the palm oil industry may not be able to compete with our neighbors because of the higher cost of sales and wastage here. MEF added that the construction sector in the country is also facing a serious shortage of workers causing some major projects to fall behind schedule. Industries such as electrical and electronics, furniture, and agriculture are also facing the same issue. With domestic tourism and food and beverage outlets reopening as the country enters the recovery phase. Required: A) B) Discuss how can government use suitable policies to stimulate the economy. (5 Marks) Briefly address THREE (3) main thrusts of the government and how government enables the Malaysian economy to recalibrate, rebound and recover after the COVID- 19 Pandemic. (10 Marks) (Total: 15 Marks)

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A The government can use suitable policies to stimulate the economy through various measures 1 Fiscal Stimulus Packages Implementing fiscal stimulus p... View the full answer