Suppose the Australia Bureau of Statistics indicated that the Consumer Price Index (CPI) increased to 103.2 in 2019 from 104.5 in 2018.  Use this information to answer the following questions:
   i) Calculate Australia's inflation rate in 2018.

   ii) Suppose Singh borrowed money from a bank in 2017. Identify the party who would gain from the financial situation in Australia.


The Department for Jobs and Small Business of Australia published the following information in 2020:

Total population 24 million
Labor force 75% of the total population

 
Unemployment Population 890,750. Use the information provided to answer the following questions:

   i) Calculate the population that was employed in Australia in 2020.

   ii) Calculate Australia's unemployment rate 2020.

Answer rating: 100% (QA)

i To calculate Australias inflation rate in 2018 we can use the formula Inflation Rate CPI in the cu... View the full answer