How the flooding could have affected the australian economy, Microeconomics

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How the flooding could have affected the australian economy

Problem

In 2022, Australia experienced serious flooding disasters, particularly in Queensland, New South Wales and Victoria. Please use the Aggregate Expenditure function and the 45-degree line diagram to discuss (a) how the flooding could have affected the Australian economy in the short run, and (b) how the disaster recovery payment, (a government assistance payment to households whose home has been severely damaged or destroyed by flood), could help the Australian economy.

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