Question 2. Starting from an equilibrium position when the economy is near full employment, discuss the immediate economic consequences that result because of the floods in eastern Australia. Use a static AD/AS model illustrate your discussion. Total marks for Question 2 = 10 marks Tip: Given the number of people and businesses involved, you should assume the floods' impact extends to the entire economy. Be sure to link your assumptions about what happened to your discussion and then how this is reflected in your diagram. Most marks in this question are allocated to the written part of your answer. Caution - under NO circumstances cut and paste your diagram from another source