ECONOM

INFLATI RGD No. No.

YEA IC UNEMPLOYME
CPI ON RATE P $ UNEMPLOY LABOURFOR
R GROWTH NT RATE  %
% bill ED CE
%
1 100 $80  10 500 240 000  
101.
2 $80.6  10 900 238 000  
2
104.
3 $83.7 10 800 250 000  
2
109.
4 $89.1  10 000 252 000  
8

(a) NO REFERENCE TO THE ABOVE: State current macroeconomic objectives and how
current levels in the Australian economy compare.       (1 mark)
(b) FROM THE ABOVE; -Calculate and record the Inflation Rates for year 2, year 3 and
year 4            (1.5 marks)

(c) FROM THE ABOVE Calculate and record the Economic Growth Rates for year 2, year 3
and year 4  (1.5 marks)
(d) FROM THE ABOVE Calculate and record the Unemployment Rates for year 1, year 2,
year 3 and year 4     (2 marks)
(e) Determine which year was likely to be the BOOM and justify with evidence from your
answers to (a), (b) and (c)       (2 marks)
(f) Determine which year was likely to be the TROUGH and justify with evidence from your
answers to (a), (b) and (c)    (2 marks)