Topic: 2 Short Questions

Order DescriptionQuestion 1: Discuss the leading causes of the Great Depression in Australia and use 45 degree line diagram to show how they caused a decline in real GDP (Word limit: 300 words)

Question 2: Starting from long-run equilibrium, use the basic (static) aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is a decline in wealth (Word limit: 200 words)

Both questions require text and diagrams.

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