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Calculate the population that was employed in Australia

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Q1. 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.

Q2. 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.

Reference no: EM133111671

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