Question
Read the scenario and answer the following questions: please provide a explanation and graph for each part The Coronavirus has presented a fast evolving and
Read the scenario and answer the following questions: please provide a explanation and graph for each part
The Coronavirus has presented a fast evolving and significant challenge to global health systems and economies. The Government has acted decisively in the national interest to support households and businesses and address the significant economic consequences of the Coronavirus. The Government's economic support package has provided timely support to affected workers, businesses and the broader community, and has kept Australians in work, and businesses in business. On 21 July the Government announced the extension of the JobKeeper Payment for a further six months until 28 March 2021 and is targeting support to those businesses and not-for-profits who continue to be significantly impacted by the Coronavirus. To support the economic recovery, the Government is extending and further tailoring temporary economic measures to support sectors, regions and communities that will continue to face challenges. These actions have supported the economy during this extraordinary time and have set the foundation for a strong economic recovery once the Coronavirus crisis passes.
Q3a. Briefly explain which policy has been implemented by the government to address the significant economic consequences of the Coronavirus. (Provide graph too)
Q3b. Use AD-AS model to explain how government action will help economy to recover from the affects of coronavirus crisis. (provide graph)
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