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Applied Economics

1. What Economic Measures Has the Government Undertaken?

The Australian government has announced $17.6 billion economic stimulus package to keep Australians in jobs, to support households, businesses and the economy as a whole. The main focus of the economic measures like the said stimulus package is to support business investment and providing targeted support for the most severely affected regions, communities and sectors (Treasury.gov.au c. 2020). In addition to this, economic measures are also implemented to provide cash flow assistance to small and medium-sized businesses in order to support their business and to ensure employment. The overall household stimulus payments are also included in the economic measure to benefit the wider economy (Klapdor 2020).

The measures are targeted, proportionate and temporary and are designed to respond to the immediate threat of economic decline. The economic measures provide temporary help ....