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2. Consumption expenditure is the largest component of GDP (expenditure method). Lack of consumer confidence in the recent years is alleged to be the main

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2. Consumption expenditure is the largest component of GDP (expenditure method). Lack of consumer confidence in the recent years is alleged to be the main reason for slower economic growth and rising Australia's unemployment rate in recent years. Discuss the trend in consumer expenditure and explain the effect of declining consumer spending on the equilibrium output using Keynesian Cross model

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