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Essay 1 {10 marks) {Approximately 1,000 words) Drawing on your knowledge of the theory of demand and supply supplemented by appropriate media reports explain what
Essay 1 {10 marks) {Approximately 1,000 words) Drawing on your knowledge of the theory of demand and supply supplemented by appropriate media reports explain what has been happening to the price ofgas in Australia over the last ten years. Essay 2 (10 marks) {Approximately 1,000 words} Explain the impact that the COVE) 19 pandemic has had on each of the four expenditure components of aggregate demand and on aggregate supply. Assess the consequences of this impact on the equilibrium level of real GDP and the price level, and on the unemployment rate in the economy
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