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In 2020, the New Zealand government announced ... ... in a short period of time.
Explain the shift of both the aggregate demand curve and aggregate supply curve on Graph One, due to the increase in “shovel ready” government projects.
There were approximately 300,000 temporary visa holder ... ... return to their home countries.
Source: (adapted) https://www.beehive.govt.nz/release/stronger-border-measures-protect-nzers-covid-19 https://www.stats.govt.nz/news/international-travel-and-migration-patterns-shift-due-to-covid-19-pandemic/
Using the resource material above, explain the shift of both the aggregate demand curve and aggregate supply curve on Graph Two, due to the fall in temporary worker numbers from overseas since 2020.
Explain why growth in the New Zealand economy may be larger due to the borders re-opening, and the number of temporary workers returning to 2020 levels, compared to the impact of “shovel ready” government projects.
On Graph Three above:
Using Graph Three, explain why there is an opportunity cost of increasing forestry output.
Efforts to cut New Zealand’s carbon emissions ... ... and provide a higher rate of return than existing rural land uses.
Source: (adapted) https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12350463
Compare and contrast the positive and negative impacts on growth of rural land being used for permanent forestry instead of agricultural products. Include in your answer:
The Sleepyhead Estate ... ... facilities.
Source: https://sleepyheadestate.co.nz https://www.waikatoregion.govt.nz/community/whats-happening/news/media-releases/council-to-consider-appealing-ohinewai-hearings-decision/
Referring to the circular flow model above, explain how a successful Sleepyhead Estate project would increase growth in New Zealand.
Compare and contrast:
the advantages and disadvantages of the Sleepyhead Project to families, including workers, in the 1 100 new homes
the impact of the project on government revenue and expenditure.