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Less supply fraillionel Examine the effect of government minimum wage of AUD 25.00. Assume the increase labour is equivalent to the total labour force and

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Less supply fraillionel Examine the effect of government minimum wage of AUD 25.00. Assume the increase labour is equivalent to the total labour force and calculate the unemployment rate (3 Marks) ANSWER: b. The figure below indicates that the aggregate demand curve slopes left to right downwards. Explain the factors that account for the shape of the Aggregate demand curve. (4 Marks) CPI (Price Level Real GDP (AUD billions)

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