Choose an economy (for example, a country or a city) as the supportment.

(a) Find out the real GDP growth rate of this economy in 2020 (compared to 2019). Also find out the corresponding growth rate for each component under the expenditure approach, and the inflation rate.

(b) With reference to the relevant events happened in 2020, discuss why each expenditure component change in this way.

(c) Based on the AD-AS framework with an appropriate diagram, discuss how the events happened in 2020 have led to the observed growth rates of GDP and inflation rates in 2020.