Define the consumer prices index, Macroeconomics

Assignment Help:

Define the Consumer Prices Index

Every month, the Office for National Statistics (ONS) collects information on about 120,000 prices for a 'shopping basket' of about 650 goods and services. The alter in the prices of those items is used for calculating the rate of inflation, shown by changes in the Consumer Prices Index (CPI). The contents of the basket are reviewed each year, and changes can be made for a number of reasons. Some items enter the basket because spending on them has reached a level that demands inclusion, to make sure that the basket represents typical consumer spending. Some are contained to make data collection easier or to better coverage of particular categories.

 


Related Discussions:- Define the consumer prices index

The circular flow of income in a closed economy, The circular flow of incom...

The circular flow of income in a closed economy   A closed economy exists when there is no international trade. We shall also assume that in this particular closed economy there

E.., law of indefference curve

law of indefference curve

New screening methods adopted price do you exect prevail, You are the manag...

You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia. A recent report indicates that nearly 50 Americ

Estimate the optimal level of provision, There are a lot of mosquitoes in ...

There are a lot of mosquitoes in the island of Liholiho. Only two people live in this island, Robinson Crusoe and Man Friday. Their respective demand curves for mosquito control ar

Perfect competion, discuss the contention that the existance of a labour ma...

discuss the contention that the existance of a labour market in a perfect competion is a fallacy

Basic concepts and terminology, when domestic currency becomes more valuabl...

when domestic currency becomes more valuable in terms of foreign currency, the domestic currency is said to have

Characteristic of capitalism, Knowing that a neoclassical, capitalist econo...

Knowing that a neoclassical, capitalist economy depends on continuous economic growth (by making its production, distribution, and consumption more efficient), what might a savvy p

Recent article in the cincinnati enquirer, A recent article in the Cincinna...

A recent article in the Cincinnati Enquirer reported that the mean labor cost to repair a heat pump is $90 with a standard deviation of $22. Montes plumbing and Heating Service com

Interest rates, what is real and norminal interest rates?

what is real and norminal interest rates?

Financing of fiscal deficit, Financing of Fiscal Deficit: Since the siz...

Financing of Fiscal Deficit: Since the size of balanced budget of the multiplier is small, it is not for all time possible to get the needed demand expansion by raising the exp

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd