Question: Saved Q6 QUESTION 6: 15 Total marks Using economic concepts, discuss the impact of the following events on the equilibrium price level and output: a)

Saved Q6 QUESTION 6: 15 Total marks Using economic concepts, discuss the impact of the following events on the equilibrium price level and output: a) [5 marks] In an effort to fight inflation, the Reserve Bank of Australia decides to implement contractionary monetary policy. b) [5 marks] In an effort to fight economic recession Australian Government decides to increase spending. c) [5 marks] Due to the outbreak of decease in Asia, shipments of input products from Asia to Australia have decreased significantly. H - =. B I AV X. X * 66 * END OF THE EXAMINATION

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