This macroeconomics report provides an in-depth analysis of the Singaporean economy, examining two key articles. The first article discusses the rise in consumer prices due to recovering oil prices, exploring concepts like inflation, recession, and expansionary fiscal policy. It analyzes the determination of prices using aggregate demand and supply models, demonstrating the impact of falling oil prices and the government's response through fiscal measures. The second article focuses on the technical recession faced by Singapore, linked to weak global growth and US economic policies. It defines recession, explores the impact on aggregate demand, and highlights the need for expansionary fiscal policies. The report emphasizes the role of government intervention in stimulating economic growth, managing unemployment, and stabilizing prices, ultimately showcasing the interconnectedness of global and local economic factors.
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