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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

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