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Illustrate an example of Consumer Price Index
For instance, if we spend twice as much on apples as on pears, apples would have twice the weight in basket. The precise details of composition of basket and how CPI is computed are complicated and vary somewhat between nations. Figure below displays CPI for Germany after reunification starting at January 1991. This data has 2005 as reference year. This means that CPI is constructed in such a way that CPI is exactly equal to 100 on average during 2005.
According to the imperfect-information model, when the price level is greater than the expected price level, output will _____ the natural level of output A) be greater than
Differentiate between Nominal rate and real interest rates To distinguish the real interest rate from the "normal" interest rate, the latter is called the nominal interest rate
The Pigou effect: A) suggests that as prices fall and real money balances rise, consumers should feel less wealthy and spend less. B) suggests that as prices fall and real mo
1. Assume the required reserve-deposit ratio is 12%, and the currency-deposit ratio is 38%. How much would money supply change if the Fed made open market purchases of $100 millio
How is economics works with interaction of individual choices? Principles behind the interaction of individual choices: 1. There are gains through trade. • Specialization
Q. Explain IS curve with inflation? The IS curve with inflation We can draw IS curve for a given value of π e . As earlier explained, IS curve isn't affected by changes
A farmer grows a bushel of wheat & sells it to a miller for Rs. 1.00. The miller turns the wheat into flour & then sells the flour to a baker for RS. 3.00. The baker uses the f
Macroeconomic policy Macroeconomic policy trade-offs are likely along the short-run Phillips curve however are not maintainable in the long run. In the short run a government
describe how open market policy can be used to stimulate economic activity in the country
Illustrate about the Effective exchange rate Assume that we are interested in external competitiveness of a country, say Japan. To do this we could look at evolution of a speci
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