Question
Weekly Income Working family with two children Casual work (Part-time) Gross $ 550.00 Casual Work (Full-time) Gross $ 1,250.00 Parenting Payment $ - Youth Allowance
Weekly Income | Working family with two children |
Casual work (Part-time) Gross | $ 550.00 |
Casual Work (Full-time) Gross | $ 1,250.00 |
Parenting Payment | $ - |
Youth Allowance | $ - |
Family Tax A (including supplement) | $ 160.00 |
Family Tax B (including supplement) | $ 45.00 |
Rent Assistance | $ 60.00 |
Energy Supplement | $ - |
Tax | -$ 240.00 |
Total income | $ 1,825.00 |
Weekly Expenditure | Working family with two children |
Food and drink | $ 320.00 |
Clothing and footwear | $ 45.00 |
Rent (including water) | $ 650.00 |
Electricity | $ 50.00 |
Household contents and other services | $ 95.00 |
Health including insurance | $ 120.00 |
Private motor vehicle including insurance | $ 95.00 |
Automotive fuel | $ 60.00 |
Public transport | $ 60.00 |
Phone / Internet | $ 38.00 |
Recreation / entertainment | $ 95.00 |
Annual holiday and travel | $ 39.00 |
Education and training | $ 60.00 |
Childcare | $ 50.00 |
Debt servicing | $ 200.00 |
Total expenditure | $ 1,977.00 |
The cost-of-living crisis is having a significant impact worldwide; not just in developing countries, but also amongst the developed countries, including Australia. In your video presentation, evaluate the impacts of the current cost-of-living crisis for Australia, particularly in relation to the level of poverty and/or inequalityin the country in the recent years.
Start your presentation with a discussion on the trend of Australia skey macroeconomic variables i.e., the economic growth, the unemployment rate, and the inflation rate between 2019 and 2022. Use relevant data to support your discussion.
6 marks
Then, present an analysis on how and why the stage of poverty and/or inequality in Australia may have changed in relation to the ongoing cost-of-living crisis. Incorporate relevant data to support your analysis.
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