1) Discuss the policies that are available to the government and the central bank to close the GDP gap.

2) Consider the current COVID-19 crisis. Outline the development of the crisis in Singapore and detail the policies the government has undertaken in tackling the crisis. Given your understanding of the situation and economic theory and modelling, discuss the longer-term implications of this crisis for the Singapore economy.

3) Discuss how the COVID-19 crisis is likely to impact average labour productivity and how this will impact long-run economic growth for the nation.