User Account

All Pages

Calculate the rate of inflation based on the cpi

Assignment Help Microeconomics
Reference no: EM131471682 , Length: word count:1000

Task -

Assignment consists of two problems.

Question 1 -

Using data from the Australian Bureau of Statistics (ABS) collect information on the consumer price index (CPI) and average weekly earnings for the period 2005 to 2015 inclusive. Employ annual figures.  Define and provide sources for the data obtained including the ABS catalogue number.

Calculate the rate of inflation based on the CPI and the rate of average weekly earnings growth and plot the inflation rate and weekly earnings growth on a single diagram using time on the horizontal axis.  Provide an economic interpretation of these time series plots.

Question 2 -

Employ the aggregate demand and supply model for the Australian economy, to analyse the consequences for real GDP and the general price level of the following scenarios. Confine your analysis to the short-run. In your response clearly state your assumptions and illustrate your answers with diagrams.

(a) the price of iron ore, a major export product, increases substantially,

(b) a favourable set of weather conditions leads to a substantial rise in Australian agricultural output,

(c) the government spends significant money in developing a broadband internet network across the country,

(d) the price of oil, a product Australia primarily imports, fall substantially.

Rationale -

The question addresses the following learning outcome:

  • be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.

Reference no: EM131471682

Questions Cloud

Describe the wonderlic personnel test : Define emotional abilities. Identify and describe the four abilities related to emotional intelligence. Describe the Wonderlic Personnel Test.
Had mills made it impossible for double diamond : Mills Construction, Inc. contracted with Double Diamond Construction to erect a steel arena. Mills was to provide the parts for the building and Double Diamond.
Explain the current economic situation : Why you picked those specific data and how does it affect and explain the current economic situation. The movie review should follow the same type of format.
Digital terrorism and criminology of computer crime : Among the different psychological theories that are discussed in Chapter 3 of the textbook, identify at least two (2) that are relevant to digital crime.
Calculate the rate of inflation based on the cpi : Calculate the rate of inflation based on the CPI and the rate of average weekly earnings growth and plot the inflation rate
Human resource planning : A systemic process of matching internal and external supply of people with job openings anticipated in the organization over a specified period of time.
Explain the most common forms of digital crime : Determine the category of computer crimes or cyber terrorism that presents the greatest overall threat at the present time. Provide a rationale to support.
Had lightmotive breached a contract : Lightmotive Fatman, Inc. offered Joist Brandis the job of gaffer on a film for 14 weeks at $2,000 a week. Brandis told Lightmotive he accepted and moved.
In the given case who owns the fifty percent interest : Ed Jenkins and Lynn Jones contracted to acquire a Subway sandwich shop franchises. Jenkins agreed to put up the money, and Jones agreed to attend any training.

Reviews

len1471682

4/24/2017 2:21:43 AM

Australian student, 1000 words, need it as per the guidelines. Assignment 3 consists of two problems worth 5 marks each. Text material which may be relevant to the question may be drawn from any of text chapters 12, 13 and 14. Highly developed skills in expression and presentation of ideas. Fluent writing style. No major grammatical and spelling errors. All references, including recent literature, cited and used accurately. Skilful use of data, theoretical knowledge and ongoing debate on the issue, and they are well integrated Contains insights and awareness of deeper and more subtle aspects of the relevant theory. There is clear evidence of researched/read more widely beyond the core materials.

len1471682

4/24/2017 2:21:32 AM

Provides well-argued articulated statements with supporting evidence. Evidence of originality and independent thought. Has highly developed analytical skills and consistently demonstrates high levels of critical analysis. Demonstrates ability to reflect on conclusions and their policy implications. Answers should be typed and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. APA referencing must be used when citing literature.

Write a Review

Microeconomics Questions & Answers

  Illustrate the impact on the market for brazilian real

Illustrate the impact on the market for Brazilian real of the changes in relative inflation rates - what is the net result on Brazil's inflation relative to U.S. inflation?

  Explain the dominant ethical tradition identified by hackett

Explain the dominant ethical traditions identified by Hackett. Please provide examples of how these philosophical perspectives might apply to environmental issues.

  Please note that this is a follow up question to the last

please note that this is a follow up question to the last assignment i submitted. it would be great of the person who

  Number of hot dog stand operating throughout the downtown

Consider a city that has a number of hot dog stand operating throughout the downtown area. Suppose that each vendor has a marginal cost of $1.50 per hot dog sold and no fixed cost. Suppose that the maximum number of hot dogs that any one vendor..

  Marginal costs of abatement for the first source

Two pollution sources are located in the same town, immediately next to each other. For every quantity of abatement, marginal costs of abatement for the first source are higher than marginal costs of abatement for the second source.

  What is the new equilibrium level of income

What is the marginal propensity to consume in Freedonia, and what is the marginal propensity to save - What is the new equilibrium level of income?

  Why is energy efficiency same thing as economic efficiency

Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build.

  Discuss the given statement

Discuss the following statement. It is important that organizational managers understand that bounded awareness can and will occur in decision making.

  I interest rate paid by us government on its short-term

a identify three economic variables that create differences in market interest rates on assets andor liabilities. b for

  Gve a graphical analysis of effects of price ceiling on

suppose in the market for apartments in seattle the equilibrium price is 1000 a month and the equilibrium quantity is

  Service and illustrate its market with supply-demand curves

Pick a good or service and illustrate its market with supply and demand curves. Explain what each curve represents and tell what (specifically) would shift each of the curves.

  Is this rule based policy pro-cyclical or countercyclical

Draw an AD/AS graph and a money market graph side-by-side. For the money market, use an upward sloping money supply curve and assume that the equilibrium interest rate in the money market is 5%.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd