nprecedented floods impacted the Australian economy in 2022. After defining the GDP, identify: One economic mechanism by which floods have increased the Australian GDP (even if they were detrimental to well-being).  One economic mechanism by which floods have decreased the Australian GDP.

Economics Today and Tomorrow, Student Edition
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ISBN:9780078747663
Author:McGraw-Hill
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Chapter19: Economic Growth In Developing Nations
Section: Chapter Questions
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Unprecedented floods impacted the Australian economy in 2022. After defining the GDP, identify:

  1. One economic mechanism by which floods have increased the Australian GDP (even if they were detrimental to well-being). 
  2. One economic mechanism by which floods have decreased the Australian GDP. 
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