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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.
(Effects of Fiscal Policy) Recently some legislators have called for tax increases to reduce the federal budget deficit. Conservatives have countered that such tax increases could
The Widget Manufacturing Company must replace a widget machine, and is evaluating the capabilities of two systems. A requirement of management is that the machine chosen must be p
Who is considered unemployed?
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If the marginal disutility of labor increases, the equilibrium real wage increases and the equilibrium quantity of labor goes up. True or false?
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