According to Australia Bureau of Statistics, in 2020 the population of Australia is about 25.6 million. The adult population over the age above 15 years was reported to be about 21.3 million and the labour force is 16.5 million. The population employed was about 13.4 million. Following this information;   Examine the causes of at least two (2) main types of inflation

Q: If the population of a country is 400 million, of whom 300 million are available to work, the…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: True or False : Inflation is a genuine issue for retirement planning because a person age 65 will…

A: Inflation refers to the situation where there is an increasing tendency in the general price level.

Q: According to the price index, it costs 200 dollars to buy a typical basket of goods in one year.…

A: 220-200/200*100 20/200*100=10

Q: Which statement is CORRECT? The Consumer Price Index is considered the best measure of long-term,…

A: In an economy, economic measures use specfiic information to calculate the value of specfic economic…

Q: Suppose you borrow $100 from a bank at 5 percent interest for 1 year and the inflation rate that…

A: If $100 is borrowed from the bank at 5% interest rate for 1 year, then after an year, (100+ 5% of…

Q: f the nominal interest rate is 9 percent and the real interest rate is 3 percent, then the inflation…

A: Fisher effect states that the Inflation rate is equal to the nominal rate minus the real Interest…

Q: One of the economic effects of inflation is that it discourages saving and investment. Why? Support…

A: Inflation is increase in general price level for all goods and services in the economy. For example,…

Q: Examine the effects of inflation in attention to food and accommodation expenses.

A: Inflation includes the cost of goods and services rises, which covers the buying power that would…

Q: Which type of inflation is usually most pronounced during the expansionary phase of the business…

A: Expansionary phase of business cycle refers to the situation when real GDP is increasing.

Q: A certain country calculates inflation using a consumer price index (CPI). Between 2016 and 2017 the…

A: Answer to the question is as follows :

Q: Demand for workers in some industry declines. These workers are reluctant to have a cut in their…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: The "core" inflation rate is typically defined as the change in consumer prices for all goods…

A: Thw difference between core and overall inflation is that core inflation does not include the change…

Q: Name several forms of indexing in the private and the public sector?

A: "Since you have asked two questions, we will answer only first question for you. If you have any…

Q: If the inflation rate is 2 percent and the real interest rate is 4 percent, the nominal interest…

A: In an economy, inflation and different types of interest rate such that real and nominal interest…

Q: Define the term inflation rate?

A: Nominal interest rate is the rate which does not take inflation into account. All the prices of…

Q: Q 3. Which type of inflation is considered good for the economy and why? Explain you answer using…

A: Which type of inflation is considered good for the economy and why? Explain you answer using one…

Q: Who would be the least affected by inflation? (Benefit from Inflation) a man with a fixed interest…

A: Inflation is the general increase in price level which lowers the purchasing power of all the people…

Q: Which of the following is most likely to be true if the rate of inflation rises sharply? a.…

A: Inflation refers to an increase in the general price level in an economy over a period of time. It…

Q: Which of the following is a cause of Cost-Push Inflation? a. Lower prices for raw materials

A: Cost push inflation arises from a decrease in aggregate supply, which is caused by an increase in…

Q: When nominal GDP in a given year is higher than real GDP, the inflation level

A: For a given year, Nominal GDP is the value of all the goods and services produced in the economy…

Q: How might your personal inflation rate differ from the average inflation rate as measured by the…

A: Food, clothing, housing, recreation, transportation, consumer staples, and other everyday or common…

Q: The effects of inflation are seen in: Question options: a) goods, services, wages and income levels…

A: Asper guidelines we will answer the first question.

Q: Give the number of observations of the following data sets a- Inflation rate of the EU members in…

A: Inflation is the increase in overall price level in an economy during a particular period of time.

Q: When the inflation rate rises, people who live on a fixed income will experience a decrease in their…

A: Inflation is defined as the general price rise of the goods in the economy.

Q: Which of the following factors could start a demand-pull inflation? # randomize A. an increase in…

A: Demand pull inflation is defined as the rise in price due to increase in demand. In other words,…

Q: From the data in the table below, what was the rate of inflation for the year ended December 2009?…

A: The Consumer Price Index refers to the measure of the average change over time in the prices paid by…

Q: The price level was listed as 100 in 2010 and in 2020 was listed as 115. If a person's salary is…

A: Inflation rate expresses the average variation in the price of all commodities and services during…

Q: Inflation rates, like most statistics, are imperfect measures. Can you identify two ways that the…

A: A currency's purchasing power depreciates with time, known as inflation. A currency's purchasing…

Q: Which of the following is the positive impact of inflation?   A) Inflation causes the real value of…

A: Inflation is the rise in average price level of goods and services produced in the economy.

Q: Based on real life situations and what we learn in Economics, is there any benefit to inflation?…

A: Inflation was and still is a contentious topic in economics. Based on the circumstances, even the…

Q: Which statement is CORRECT? Any person who can work and is of working age is considered part of the…

A: GDP is measured with the aid of using taking the portions of all items and offerings produced,…

Q: The government has released the latest retail price index which suggests inflation was 2.14%. A…

A: Given: Annual rate of inflation = 2.14% Present cost of a basket of food = £45.44

Q: Sally has a credit card balance of ​$1,000. The credit card company charges a nominal interest rate…

A: The interest rate increase would result in an increase in the inflation. The increase in the…

Q: Explain how the average inflation rates are calculated?

A: Inflation is a situation where the price of the commodity that is goods and services are rising in…

Q: In a country with a working-age population of 22 million, 16 million are employed, 2 million are…

A: labor force=employed + unemployedlabor force=16+2labor force=18 millions

Q: Which of these statements is true about inflation? a. It is always based on the prices of exports…

A: Inflation is a macroeconomic factor that impacts a market and overall economy because it influence…

Q: Which of the following is not an economic effect of inflation?

A: Inflation refers to the general rise in prices of goods and services in the economy. The rapid and…

Q: Evaluate how each of the following individuals would be affected by unanticipated inflation: (a) A…

A: Unanticipated inflation is the one which is not predicted and hence affects the people more greatly…

Q: Because there isn't one single measure of inflation, the government and researchers use a variety of…

A: GDP deflator = (nominal GDP / Real GDP)*100 Nominal GDP market value of final goods and services…

Q: The CPI might overstate inflation because consumers may shift consumption to cheaper alternatives.…

A: Consumer price index measures the overall price of market basket of goods and services that is…

Q: If the rate of inflation is 7 percent per year, the price level will double in about

A: Given : Inflation rate = 7 % I will use the rule 70 here. The rule of 70 estimates the number of…

Q: Which of the following is true about inflation? a. Inflation affects everyone negatively b.…

A: Inflation is defined as the rise in the average price level of commodities and services in the…

Q: Give four examples of goods or services that have exhibited inflation in recent years.

A: Inflation is a concept that is used for a considerable increase in the price level of an economy.…

Q: Does the BLS method of assessing inflation imply that consumers actually purchase the same goods and…

A: The consumer price index is an economic instrument used to measure the changes in the price level in…

Q: In terms of CPI, define the general inflation rate?

A: Inflation is the increase in the price level of goods and services in the market. This reduces the…

Q: Which of the following is NOT true about consequences of high unanticipated inflation    Select…

A: Unanticipated inflation: It means that there is an increase at a faster pace rather than expected.…

Q: A consequence of unanticipated inflation in an economy is that: Group of answer choices the rate of…

A: In economics, inflation is generally defined as the overall increase in the price level in the…

Q: Bangladesh is an agricultural country. They produce the majority of agricultural products for their…

A: There are two types of inflation, demand-pull inflation and cost push inflation. In other words, the…