Question 6: Inflation decreased? (1 Viewer)

[enigma_1]

http://www.boardofstudies.nsw.edu.au/hsc_exams/hsc2009exams/pdf_doc/2009-hsc-economics.pdf

Is it like an error in the thing?

The answer to Q6 is D, but like how? I thought inflation has increased :/

Also, shouldn't question 19 be A, but the answer says B.

 

[emilios]

Be careful with Q6. The inflation rate is not just the raw CPI figure, but the year to year change i.e.

Inflation rate= (Year 2 CPI - Year 1 CPI)/Year 1 CPI * 100

The CPI is still increasing but at a slower rate, so the inflation rate is falling.

With question 19, you also have to recall the relevant formulae.

Labour Force = (Employed + Unemployed and actively seeking work) / Working age population * 100 and therefore a decreased in the number of employed persons who the do not seek work decreases the size of the L.F.

Unemployment Rate = Unemployed and actively seeking work / Labour force. * 100 . Now, since the people that lose their jobs don't seek work, there is no net change to the number of unemployed persons , but the size of the Labour force has however, decreased. Therefore the denominator becomes smaller and the unemployment rate rises.

 

[enigma_1]

Be careful with Q6. The inflation rate is not just the raw CPI figure, but the year to year change i.e.

Inflation rate= (Year 2 CPI - Year 1 CPI)/Year 1 CPI * 100

The CPI is still increasing but at a slower rate, so the inflation rate is falling.

With question 19, you also have to recall the relevant formulae.

Labour Force = (Employed + Unemployed and actively seeking work) / Working age population * 100 and therefore a decreased in the number of employed persons who the do not seek work decreases the size of the L.F.

Unemployment Rate = Unemployed and actively seeking work / Labour force. * 100 . Now, since the people that lose their jobs don't seek work, there is no net change to the number of unemployed persons , but the size of the Labour force has however, decreased. Therefore the denominator becomes smaller and the unemployment rate rises.

Thanks man!! Really cleared up a lot

 

[emilios]

Thanks man!! Really cleared up a lot

Nws mate, good luck with everything

 

[enigma_1]

Nws mate, good luck with everything

Thanks, you too!!

 

[photastic]

Be careful with Q6. The inflation rate is not just the raw CPI figure, but the year to year change i.e.

Inflation rate= (Year 2 CPI - Year 1 CPI)/Year 1 CPI * 100

The CPI is still increasing but at a slower rate, so the inflation rate is falling.

With question 19, you also have to recall the relevant formulae.

Labour Force = (Employed + Unemployed and actively seeking work) / Working age population * 100 and therefore a decreased in the number of employed persons who the do not seek work decreases the size of the L.F.

Unemployment Rate = Unemployed and actively seeking work / Labour force. * 100 . Now, since the people that lose their jobs don't seek work, there is no net change to the number of unemployed persons , but the size of the Labour force has however, decreased. Therefore the denominator becomes smaller and the unemployment rate rises.

Band 6! Perv answers

 

[enigma_1]

Band 6! Perv answers

umm...

 

[mreditor16]

Band 6! Perv answers

umm...

well at least v is close to f on the keyboard. haha

 

[enigma_1]

well at least v is close to f on the keyboard. haha

haha I know ay, would've been awks otherwise