Suppose you have $200,000 in a bank term account. You earn 5% interest per

annum from this account.

You anticipate that the inflation rate will be 4% during the year. However, the

actual inflation rate for the year is 6%.

Calculate the impact of inflation on the bank term deposit you have and

examine the effects of inflation in your city of residence with attention to food

and accommodation expenses.

2. The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilian

population in Australia over 15 years of age was 20.8 million.

Of this population of 20.8 million Australians, 13.5 million were employed and

0.7 million were unemployed.

Calculate Australia's labor force and the number of people in the civilian

population who were not in the labor force? Also, with examples examine the

causes of structural unemployment in Australia