As at 2009, the Total Amount of CGS on Issue

question 34

Multiple Choice

As at 2009, the total amount of CGS on issue in Australia was around:

• A) $22 billion.
• B) $34 billion.
• C) $101 billion.
• D) $96 billion.

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Definitions:

Unemployment Rate

The proportion of the labor force that remains unemployed and is actively looking for ways to gain employment.

Cyclical Unemployment

Unemployment caused by the downturns of the economic cycle, such as recessions.

Natural Rate of Unemployment

The level of unemployment consistent with a stable rate of inflation, caused by the supply and demand for labor adjusting to various market factors.

Actual Rate of Unemployment

The proportion of the labor force that is jobless and actively looking for employment at any given time.