Question
a. The Consumer Price Index (CPI) is an index that measures changes in the average prices for consumer goods and services. Explain why CPI is
a. The Consumer Price Index (CPI) is an index that measures changes in the average prices for consumer goods and services. Explain why CPI is not a perfect measure of inflation
b)
Suppose the Australian Bureau of Statistics in 2021 reported as follows:
The Armed forces, children below 15 years, the disabled and retired population were 12.2 million of the Australian population
Total population: 26.6 million
Adult Australians employed: 13.6 million
Based on this information, answer the questions below
Calculate Australia's labour force in 2021
Calculate Australia's unemployment rate in 2021
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started