The COVID 19 pandemic has had far reaching impacts on national economies around.
The COVID 19 pandemic has had far reaching impacts on national economies around the globe resulting in large falls in economic growth and plunging many countries into recession.
a. Using the Australian economy as an example explain how the recession induced by the pandemic is different to other previous recessions. In your answer consider the causes of the downturn and compare them with a previous recession.
b. How have global governments responded to COVID with respect to monetary policy? In particular, discuss the actions of the Reserve Bank of Australia in response to the COVID crisis and compare them with another country.
Provide an extremely effective and elaborative explanation of the COVID crisis and its effect on the broader economy, corporate sectors, and government responses. Relevant and important facts and figures are to be presented from credible sources.