1.Go to the website of Australian Bureau of Statistics (ABS) at http://www.abs.gov.au/

a)Find the annual inflation rate (Jun 2019 to Jun 2020, %) in terms of "all groups" for weighted average of eight capital cities and for Perth. (10 marks)

b)Find Australia's number of employed and unemployed people in Aug 2020. Calculate the unemployment rate based on the formula you learned from this unit. Is it consistent with the reported rate? (10 marks)

2.Read the following two newspaper articles on the recent two deflation episodes in Australia:

http://www.smh.com.au/business/the-economy/deflation-whats-so-wrong-with-falling-prices-20160522-gp1921.html

https://www.abc.net.au/news/2020-07-29/inflation-cpi-abs-june-quarter-2020/12501934

Why is persistent deflation considered as one of the greatest threats to a healthy economy? Japan has suffered from chronic deflation since the latter half of the 1990s. Will Australia become the next Japan? What do you think are crucial factors/policies that could prevent Australia from repeating Japan's nightmare?

Write short essay to answer the above questions.. Words in the reference list are excluded. (80 marks)