Supposeyouhave$200,000inabanktermaccount.Youearn5%interestper 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.
1. Supposeyouhave$200,000inabanktermaccount.Youearn5%interestper 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. TheAustralianBureauofStatistics(ABS)reportedinMay2017thatthecivilian 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
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