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Australia enters first recession in 29 years after blow from bushfires and coronavirus https://www

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Australia enters first recession in 29 years after blow from bushfires and coronavirus

https://www.theguardian.com/business/2020/jun/03/australia-enters-first-recession-in-29-

years-after-blow-from-bushfires-and-coronavirus

1. (a) Based on the article, comment on what happened to GDP in the March quarter in 2020 and over the past 12 months. (1 mark)

2. (b) What was the change of each of the four major components of GDP in the first quarter 2020? (4 marks)

3. (c) Based on the article and/or your personal experience, how did coronavirus change people’s spending habits? (2 marks)

4. (d) Go to the Australian Bureau of Statistics website and find and report the Seasonally adjusted percentage change from June 19 to June 20 Chain volume GDP and related measures figure. (1 mark)

5. (e) Find and report the corresponding figure for June 2018 to June 2019 on the ABS website. Explain whether, based only on the GDP data and all else equal, you would prefer to be incumbent Government running for re-election this time last year or now. (2 marks)