If the global economy experiences a significant economic recession, this is likely to lead to a rise in cyclical unemployment in an open economy like Australia because the
value of goods and services exported from Australia will fall.
price of imported raw materials and energy is likely to rise.
capacity of foreign nations to supply goods to Australia will be reduced.
exchange rate of the Australian dollar will appreciate on foreign markets.
327 exam-style questions on AQA A Level Economics 2.3 Economic performance, covering 2.3.1 Economic growth and the economic cycle, 2.3.2 Employment and unemployment, 2.3.3 Inflation and deflation, and 2.3.4 Possible conflicts between macroeconomic policy objectives. Each one has a worked solution and a mark scheme showing where the marks go.