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24 Measuring Cost

24 Measuring Cost

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Published by yuliandriansyah
Chapter 24 Slide Presentation of Mankiw's Principles of Economics 3rd Edition
Chapter 24 Slide Presentation of Mankiw's Principles of Economics 3rd Edition

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Categories:Types, Business/Law
Published by: yuliandriansyah on Feb 14, 2011
Copyright:Attribution Non-commercial

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02/15/2011

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Copyright©2004 South-Western
2424
Measuring the Costof Living
 
Copyright©2004 South-Western
Measuring the Cost of Living
InflationInflationrefers to a situation in which theeconomy¶s overall price level is rising.The inflation rateinflation rateis the percentage change inthe price level from the previous period.
 
Copyright©2004 South-Western
THE
CONSUM
ER
P
RI
C
E
 
I
ND
EX
The
consumer price index (CPI)
is a measure of the overall cost of the goods and services bought by a typical consumer.The Bureau of Labor Statisticsreports the CPIeach month.It is used to monitor changes in the cost of living over time.

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