Class Notes (838,541)
United States (325,475)
Economics (520)
CAS EC 102 (215)
Lecture

Lecture.pdf

2 Pages
83 Views
Unlock Document

Department
Economics
Course
CAS EC 102
Professor
Jay Zagorsky
Semester
Spring

Description
Lecture Thursday, February 20, 2014 3:29 PM WSJ: "Facebookto Pay $19 Billion for WhatsApp" and "Thousands Flock to Kiev to Shore Up Protests" Trouble in Ukraine - One of the major places where wheat is grown in the world and large producer of steel pipes and machinery - Because world economyis connected, if Ukraine goes under, the prices of wheat and steel will spike up - President Yanukovych was faced with an economicchoice ○ Sign trade agreement with European Union or trade primarily with Russia  Stayed with Russia, which started a protest - Ukrainians are upset because the other former satellite countries are doing better economically ○ Large inequalities and inefficient economy Prices Part II - Does the CPI misstate inflation? ○ Accurate measure of selected goods of a typical bundle but, it is not a perfect measure of the cost of living  Deliberate lying □ Autocratic regimes prop themselvesby releasing false economicindicators  Example: Soviet Union before the collapse in 1980swhich understated inflation  Outlet bias □ US shoppers over time are buying more warehouse stores  Exclusionary due to membership  Large amounts makes it hard to combining the prices with general prices even though they have lower inflation  New goods □ The basket does not reflect
More Less

Related notes for CAS EC 102

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit