Consumer Price Index’

Describe how your measure the ‘Consumer Price Index’ and the ‘unemployment rate’. Critically examine the shortcomings of these measures. Give data on the inflation and unemployment situation in the past 10 years in Australia and comment on the trends/fluctuations (consider different categories of un-employment also). (You can substitute another country. You need to visit the Australian Bureau of Statistics (ABS)/Reserve Bank of Australia or the relevant websites for the country of your choice).

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