Backgroundof the Assessment You are an independent economic consultant. The Commonwealth Government of Australia hasasked for your recommendations that will help prevent aneconomic slowdown as a consequence to COVID-19 quarantine restrictions.TaskYou are required to assess the performance of the Australian economy andcompare with theeconomic profile of another country. Your report should incorporate the most recent data. You canobtain the required data from the sources mentioned below.DataPrimary data sources:(a) Australian Bureau of Statistics(b) Reserve Bank of Australia(c) Multinational agencies (e.g. the World Bank, the United Nations, the International Monetary.
Macroeconomic Performance And Social Impact:
a)Assess the overall performance of the Australian economy by providing a detailed discussion onthe relevant macroeconomic indicators. Highlight how the development of Australian economyhas been affected. Explain how long it will take for the Australian economy to recover. You mustuse the relevant statistical data, graphs or diagrams to support your argumentsb)Choose your home country (or a country of your choice) for this section. Compare and contrast.
b) how Australia and your home country have applied macroeconomic policies to minimise thenegative impact of COVID-19 on their economies. How effective has it been? Your focus must beon the steps taken by the TWO countries tomanage the economic activities andnot to controlthe spread of COVID19 Conclusions and Recommendation: What are your recommendations to ensure that these macroeconomic policy measures worksuccessfully for Australia? Discuss any recommendations that could help revive the Australianeconomy as quickly as possible
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