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Chapter 25 & 29 Notes

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Course Code
ECON 2030

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TODAYS MENUTuesday 01 July 2014IBUSINESSAPractice Problems1Chapter 251 2 4 8 12 1517 19212Chapter 2917 1416IISUBSTANCEAInflation and Inflation Rates1Definitions InflationMacroeconomic problem Refers to a continuous increase in the aggregate price level Inflation Ratesis just the measure of the percent change in the aggregate total overall price level An economy that is experiencing inflation the inflation rates will be continuously positive 2Measurement Fixed basket of goods and services Take the things that we typically consume purchase the same exact items in that exact proportion every month and then see how the cost of buying those things change in cost aConsumer Price Index CPIMeasure of the aggregate price level at the retail level that faces consumers We measure thechange in retail bProducer Price Index PPILooking at business spending
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