Warnings of an imminent global recession have been ringing louder than before.
economics
Description
1. Warnings of an imminent global recession have been ringing louder than before. With key economic data worldwide continuing to disappoint amid the novel coronavirus (Covid-19) outbreak, experts say the worst is yet to come.
Many expect the global economy to enter into a recession in 2020, and says a recession across Asia-Pacific is “now guaranteed.” As a newly appointed economist, you are required to formulate a plan to advise the government on how to minimise the impact of the recession in Malaysia.
Using the four-sector economy, Y = C + I + G + (X-M), provide your advice. (Note: Y is Gross Domestic Product, C is Private consumption, I is investment, G is Government's expenditure on final goods, X is exports and M is imports)
