EC 202 Chapter Notes - Chapter 6: Hyperinflation
Document Summary
Unemployment insurance: payments unemployed people receive from the government. Consumer price index (cpi): a price index that measures the cost of a fixed basket of goods chosen to represent the consumption pattern of a typical consumer: good measure of the cost of living. ***cpi in a year x = cost of basket in year x divided by cost of basket in base year times 100*** Inflation rate: the percentage rate of change in the price level: the percentage of change of a price index.