曼昆經(jīng)濟(jì)學(xué)原理(宏觀經(jīng)濟(jì)學(xué)分冊)英文原版ppt課件--文庫吧資料
2024-08-18 08:08本頁面
【正文】 Consumer Price Index ? The BLS calculates other prices indexes: ? The index for different regions within the country. ? The producer price index, which measures the cost of a basket of goods and services bought by firms rather than consumers. 169。 2022 Thomson SouthWestern Problems in Measuring the Cost of Living ? The substitution bias, introduction of new goods, and unmeasured quality changes cause the CPI to overstate the true cost of living. ? The issue is important because many government programs use the CPI to adjust for changes in the overall level of prices. ? The CPI overstates inflation by about 1 percentage point per year. 169。 2022 Thomson SouthWestern Problems in Measuring the Cost of Living ? Introduction of New Goods ? The basket does not reflect the change in purchasing power brought on by the introduction of new products. ? New products result in greater variety, which in turn makes each dollar more valuable. ? Consumers need fewer dollars to maintain any given standard of living. 169。 2022 Thomson SouthWestern Problems in Measuring the Cost of Living ? The CPI is an accurate measure of the selected goods that make up the typical bundle, but it is not a perfect measure of the cost of living. ? Substitution bias ? Introduction of new goods ? Unmeasured quality changes 169。 2022 Thomson SouthWestern How the Consumer Price Index Is Calculated ? Calculating the Consumer Price Index and the Inflation Rate: Another Example ? Base Year is 2022. ? Basket of goods in 2022 costs $1,200. ? The same basket in 2022 costs $1,236. ? CPI = ($1,236/$1,200) ? 100 = 103. ? Prices increased 3 percent between 2022 and 2022. 169。 2022 Thomson SouthWestern Table 1 Calculating the Consumer Price Index and the Inflation Rate: An Example 169。 2022 Thomson SouthWestern 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. 169。 2022 Thomson SouthWeste
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