1. Let's wind the clock back to the year 2019. In early September 2019, the Australian economy woke up to underwhelming news regarding growth data for the 2nd quarter of 2019 (from 1st April to 30th June 2019). According to the data published by the ABS (Australian Bureau of Statistics), the economy grew at a quarterly rate of 0.5 percent. In other words, Real GDP in June 2019 was 0.5 percent higher than that in March 2019. This was the weakest growth rate on record ever since the first quarter of 2001 (from 1st January to 31st March 2001). Even more disappointingly, the data revealed that the quarter ending June 2019 witnessed a lower level of Real GDP per capita compared to the year before (the quarter ending June 2018). 
2. Require:
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4. Draw an appropriate AD-AS graph to illustrate the state of the economy in June 2019.
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