5. a. i) Calculate the GDP for 2018?5. a. ii) (Calculate the economic growth between July 2018 to June 2019.5. a. iii) Calculate the unemployment rate (%) in July 2018 and June 2019.5. b) Given that the LFPR has increased from 64.72% to 65.27% and the changes in theunemployment rate between 2018 and 2019 [from (5. A. iii) above], what does this indicate aboutemployment in the country?5. c) Is this economy contracting or expanding in 2019? Why? How does this affect the ADcurve, SAS curve and the LAS curve in the AD/AS model.5. d.) Refer to Question 5. c above, what monetary policy might the central bank undertakein 2019 to address the economic problem? How would this policy affect the AD/AS curves in theAD/AS Model?5. e) How does fiscal policy affect the components of aggregate demand?Please label your answer [eg Answer: Question 1. a)]

5. Consider the graph and table below for Australia in 2015-2016 and answer the following questions: Australia July 2018 June 2019 Labour Force Participation rate 64.72% 65.27% (LFPR%) Employed persons (E) 10,000,000 10,100,000 Unemployed persons [UE) 780,000 650,000 Gross Domestic Product (GDP) $224.7 ($millions) Consumer Spending (C) ($millions) $118.87 $126.84 Investment Spending (1) ($millions) $30.75 $14.53 Government Spending $418 (G) ($millions) $38.85 Export (X) ($millions) $15.2 $17.8 Import (M) ($millions) $2.96 $3.32 Inflation rate 2.4% 5.5% Transfer Payments 72.65 B 65.2 B Saving 5 B 6.4 B