Impact of above economic conditions on equilibrium real gdp

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Reference no: EM133611639

Assignment:

Event 1. In response to a higher inflation rate the Reserve Bank of Australia increases the cash rate which results in higher interest rates on loans by financial institutions.

Event 2. There is lower RGDP growth in Australia's major trading partners.

Event 3. The opening up of international borders post covid results in an increase in the immigration of skilled workers.

What is the OVERALL impact of the above economic conditions on equilibrium real GDP and the price level of the Australian economy?

Briefly explain. Include in your explanation whether the AD and or AS curves shift and in which direction.

Reference no: EM133611639

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