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Once we have monthly data on a price index we can evaluate the inflation. In most nations, the percentage change in price index during one month is small. Hence it is more common to calculate inflation each month based on a complete year. For instance, on 1 January 2010, inflation is calculated as percentage change in the price index between 1 January 2010 and 1 January 2010. On 1 February 2010, inflation is evaluated as the percentage change in price index between 1 February 2010 and 1 February 2010 and so on. Figure belowillustrates Germany as an instance.
Figure
Inflation in Germany 1992 - 2010. Source: OECD.
1. Kuhn - Tucker Conditions Max 2x + 3y s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0 2. Max (8 + x)(8 + y) s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0 Utility function 3. U(x, y)
Q. Determine price level from the quantity theory of money? The price level The price level is determined from the quantity theory of money: P = (M.V)/Y
Currently you purchase 6 packages of hot dogs a month. You will graduate from college in December, and you will start a new job in January. You have no plans to purchase hot dogs i
Because of high production-changeover time and costs, a director of manufacturing must convince management that a proposed manufacturing method reduces costs before the new method
The AS curve Say that nominal wage in year 1 (at a particular point in time) is equal to 1000. On the horizontal part of response curve, real wage is constant and equal to its
unplandned change in inventory are coutned as investment spending by firms
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WHO IS JOHN MANYARD KEYNES
Government and Price-Determination can be understood as follows: The government might intervene in the market and mandate the maximum price (price ceiling) or the minimum price
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