曼昆经济学原理宏观经济学分册英文原
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• The BLS conducts monthly consumer surveys to set the weights for the prices of those goods and services.
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated 2. Find the prices. Find the prices of each of the
• Compute the index by dividing the price of the basket in one year by the price in the base year and multiplying by 100.
Consumerprice index Price of basket of goodsand services100 Price of basket in base year
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated 5. Compute the inflation rate. The inflation rate is
the percentage change in the price index from the preceding period.
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated
4. Choose a base year and compute the index.
• Designate one year as the base year, making it the benchmark against which other years are compared.
© 2007 Thomson South-Western
Table 1 Calculating the Consumer Price Index and the Inflation Rate: An Example
© 2007 Thomson South-Western
Table 1 Calculating the Consumer Price Index and the Inflation Rate: An Example
© 2007 Thomson South-Western
THE CONSUMER PRICE INDEX
• The consumer price index (CPI) is a measure of the overall cost of the goods and services bought by a typical consumer.
THE CONSUMER PRICE INDEX
When the CPI rises, the typical family has to spend more dollars to maintain the same standard of living.
© 2007 Thomson South-Western
© 2007 Thomson South-Western
Measuring the Cost of Living
• Inflation refers to a situation in which the economy’s overall price level is rising.
• The inflation rate is the percentage change in the price level from the previous period.
• The Bureau of Labor Statistics reports the CPI each month.
• It is used to monitor changes in the cost of living over time.
© 2007 Thomson South-Western
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated • Calculating the Consumer Price Index and the
goods and services in the basket for each point in time. 3. Compute the basket’s cost. Use the data on prices to calculate the cost of the basket of goods and services at different times.
How the Consumer Price Index Is Calculated
1. Fix the basket. Determine what prices are most important to the typical consumer.
• The Bureau of Labor Statistics (BLS) identifies a market basket of goods and services the typical consumer buys.
© 2007 Thomson South-We Price Index Is Calculated • The inflation rate is calculated as follows:
Inflation Rate in Year 2= CPI in Year 2 CPI in Year 1 100 CPI in Year 1
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated 2. Find the prices. Find the prices of each of the
• Compute the index by dividing the price of the basket in one year by the price in the base year and multiplying by 100.
Consumerprice index Price of basket of goodsand services100 Price of basket in base year
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated 5. Compute the inflation rate. The inflation rate is
the percentage change in the price index from the preceding period.
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated
4. Choose a base year and compute the index.
• Designate one year as the base year, making it the benchmark against which other years are compared.
© 2007 Thomson South-Western
Table 1 Calculating the Consumer Price Index and the Inflation Rate: An Example
© 2007 Thomson South-Western
Table 1 Calculating the Consumer Price Index and the Inflation Rate: An Example
© 2007 Thomson South-Western
THE CONSUMER PRICE INDEX
• The consumer price index (CPI) is a measure of the overall cost of the goods and services bought by a typical consumer.
THE CONSUMER PRICE INDEX
When the CPI rises, the typical family has to spend more dollars to maintain the same standard of living.
© 2007 Thomson South-Western
© 2007 Thomson South-Western
Measuring the Cost of Living
• Inflation refers to a situation in which the economy’s overall price level is rising.
• The inflation rate is the percentage change in the price level from the previous period.
• The Bureau of Labor Statistics reports the CPI each month.
• It is used to monitor changes in the cost of living over time.
© 2007 Thomson South-Western
© 2007 Thomson South-Western
How the Consumer Price Index Is Calculated • Calculating the Consumer Price Index and the
goods and services in the basket for each point in time. 3. Compute the basket’s cost. Use the data on prices to calculate the cost of the basket of goods and services at different times.
How the Consumer Price Index Is Calculated
1. Fix the basket. Determine what prices are most important to the typical consumer.
• The Bureau of Labor Statistics (BLS) identifies a market basket of goods and services the typical consumer buys.
© 2007 Thomson South-We Price Index Is Calculated • The inflation rate is calculated as follows:
Inflation Rate in Year 2= CPI in Year 2 CPI in Year 1 100 CPI in Year 1