© 2007 Thomson South-Western. 1 Measuring the Cost of Living Inflation refers to a situation in which the economy’s price level is rising. The inflation.
Tutorial 2 Macroeconomics – ECON 111. The consumers price index (CPI) is a measure of the overall cost of the goods and services bought by a typical household.
The Price Level and Inflation CHAPTER 1 Chapter 7.
Welcome To Macroeconomics Econ 2301 Dr. Jacobson Mr. Stuckey Chapter 7 Chapter 7.
Measuring the Cost of Living Chapter 23 Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the.
Macroeconomics: Ch 6 Measuring the Cost of Living-6 u In determining the cost of living, Statistics Canada first identifies a “market basket” of goods.
Principles of Macroeconomics: Ch 11 Second Canadian Edition Chapter 11 Measuring The Cost of Living © 2002 by Nelson, a division of Thomson Canada Limited.
1 Objective – Students will be able to answer questions regarding inflation. SECTION 1 Chapter 7- Inflation © 2001 by Prentice Hall, Inc.
Copyright©2004 South-Western Measuring the Cost of Living.
CHAPTER 24 MEASURING THE COST OF LIVING. Inflation Inflation refers to a situation in which the economy’s overall price level is rising. inflation.
Consumer Price Index (CPI). Mariner Stoddard Eccles.
Inflation. What is inflation? A rise in the general price level –$1.00 today does not buy as much as a dollar from 1950. –Example: The price of a pack.
