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State the Price level and time
We are rarely interested in the value of price level at a specific point in time. What we are interested in is percentage change in the price level between two points in time.
We calculate percentage change by first creating a basket of services and goods. At regular intervals (generally once a month on the first day of the month) we measure all prices of the contents of basket (mainly as an average of market) and calculate price level. In this manner, we will end up with a time series of price levels - one value for every month.
The demand for nominal balances rises with the price level. At the similar time inflation causes the real demand for money to fall. Describe how these two assertions can be both co
What is exchange.rate?
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Ok... So if the price level is rising, this means that inflation is rising as well, so the value of the dollar in the US would decrease meaning that purchasing power decreases as
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