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Using the Aggregate Demand(AD)-Aggregate Supply(AS) model, examine the possible impact on Malaysia's GDP and price level in the following situations: (i) In 2012, the government
Using the Aggregate Demand(AD)-Aggregate Supply(AS) model, examine the possible impact on Malaysia's GDP and price level in the following situations:
(i) In 2012, the government will give book vouchers worth RM 22 to each Malaysian student in public and private local institutions of higher learning. (4 marks)
(ii) Employers' contribution to the Employee Provident Fund(EPF) is proposed to increase from 12% to 13% for contributors who earn RM 5000 and below. (4 marks)
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