1.Consumption expenditure is the largest component of GDP (expenditure method).Due to the COVID-19 pandemic, Australia's household final consumption fell to -12.3% in March-June quarter 2020, which recovered to 7.9% in June-Sep quarter 2020. However, the saving ratio fell to 18.7% in the June-Sep quarter from 22% in the March-June quarter of 2020.Briefly discuss the trend and relationship between consumption expenditure and savings ratio and explain the effect of increasing consumer spending on the equilibrium output using the Keynesian Cross model.(5 marks)

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