QUESTION TWO Consider the information below before answering the questions that follow: As at the end of quarter two 2023, the following ecoriomic data is available for South Africa. Economic growth (real GDP) increased by 0.6%. Inflation (CPI) improved from 5.4% to 4.7%. Unemployment improved from 32.9% to 32.6%. Exchange rate (Dollar vs Rand) 1. Differentiate between an expansion and contraction as part of the economic cycles. (Do not use examples from the module guide) (12) 2 Based on the information provided, analyse South Africa's economic environment. Conclude on whether South Africa is in an expansion or a contraction. (8)