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Assume that the Australian economy is in recession . a.Should the RBA implement contractionary or expansionary monetary policy and how open market operation be applied
Assume that the Australian economy is in recession.
a.Should the RBA implement contractionary or expansionary monetary policy and how open market operation be applied (2 marks) (40-50 words)
b. Explain how the policy would influence household consumption, private investment, and net exports (X-M) to correct the Australian economy. (2 marks) (40-50 words)
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