How the fiscal stimulus measures adopted by the australian

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Question: COVID-19 resulted into many economies in the world including Australia going into a recession in 2020 as demonstrated in the following article.

Six graphs that explain Australia's recession. • https://www.abc.net.au/news/2020-09-03/coronavirus-recession-in-australia-six-graphs-explain/12624250

While some economies are still struggling to recover completely, Australia has performed well recovering from the recession due to the timely and effective policy measures. The government adopted effective fiscal stimulus measures to support the economy. Not only the economy recovered from the recession, the federal government also delivered a surplus budget in May 2023.

Use the AD (Aggregate Demand) model to show the impact of the decline in consumption and investment caused by COVID-19 on the Australian economy in 2020. Show how the fiscal stimulus measures adopted by the Australian government since then helped the economy to stabilise in terms of economic growth and employment in 2023. On the same diagram, illustrate and explain the process of the multiplier

Reference no: EM133454384

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