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South Africa is now officially in its first recession since 2009 after gross domestic product (GDP) shrank by 0.7% in the first quarter of the
South Africa is now officially in its first recession since 2009 after gross domestic product (GDP) shrank by 0.7% in the first quarter of the year, following a 0.3% contraction in the last quarter of 2016.
http://www.huffingtonpost.co.za/2017/06/06/south-africa-is-now-officially-in-a-recession-as-the-economy-kee_22128210/ Accessed on 4 August 2017
1.1. Discuss and illustrate the above scenario with the aid of the possibility production frontier. (Hint: Relate your answer to economic growth). (15)
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