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

Events x and y are mutually exclusive, The events X and Y are mutually excl...

The events X and Y are mutually exclusive. Suppose P(X)=.05 and P(Y) =.02. What is the probability of either X or Y occurring? What is not probability of X nor Y happens?

Economic system: protectionism and free trade, why is international trade i...

why is international trade important for South Africa?

Money and credit, MONEY AND CREDIT  In any modern economy, the quantity...

MONEY AND CREDIT  In any modern economy, the quantity of money, aggregate volume of credit and its sectoral composition are important variables which exert significant influenc

Real output, SUppose nominal GDP increases from 5.8 trillion to 6 trillion....

SUppose nominal GDP increases from 5.8 trillion to 6 trillion. The GDP deflator rose over that same year by 3.9 percent. By what percent does the real output increase?

Difference between productive and allocative efficiency, Explain the differ...

Explain the difference between productive and allocative ( economic ) efficiency. Explanation of productive efficiency, e.g. output at AC minimum Define to the effect th

Inflation, what are the causes of inflationary gap

what are the causes of inflationary gap

#title., .Clearly explain how net foreign investment links the market for l...

.Clearly explain how net foreign investment links the market for loanable funds and the market for foreign currency exchange. Make sure you define net foreign investment in your an

BALANCE OF PAYMENTS, explain any two factors that cause the shifts in the b...

explain any two factors that cause the shifts in the balance of payments curve.

Iterated elimination of dominated strategies, 1. Consider the following gam...

1. Consider the following game: a) Does either player have a dominant strategy? b) Does either player have a (pure) prudent strategy? c) Does the game have a saddlepo

Effects of an oil price shock - empirically analyses, This paper empiricall...

This paper empirically analyses the effect of oil price shocks on key macroeconomic indicators in the United Kingdom.The aim of the paper is to establish a relationship between oil

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