1. Read the opinion based article on pages two to three (2-3).
2. The article presents the opinion of the author relative to the
latest GDP figures and the state of the economy. With this in mind,
answer the following questions using appropriate supporting
arguments and research. Â
Note: this assessment item covers concepts learned in Weeks 7, 8 and 9.
1. In your opinion is Australia moving into recession?Â 2. List and analyse the potential risks facing the Australian economy. 3. If the economy does move into recession what are the likely impacts on unemployment? 4. How might a recession impact the circular flow of income? 5. A business cycle is characterized by economic â€˜recessionâ€™ and â€˜boomsâ€™. What is likely to happen to key macroeconomic variables like unemployment, inflation, GDP (economic growth) during the â€˜boomâ€™ period
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