Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economics P2: Inflation > Measuring Inflation > Flashcards

Measuring Inflation Flashcards

1
Q

how is inflation measured?

A

price indexes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

what are the 3 inflation measures?

A

CPI
PPI
ALL INC INFLATION RATE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is CPI?

A

consumer price index
most common measure
measure of prices that influence living costs, used to calculate consumer inflation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

how is CPI calculated?

A

compares base year average to the corresponding averages of inflation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

who calculates CPI?

A

Stats SA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

indicators of CPI?

A

headline CPI
core inflation
CPIX inflation
admin prices

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

what is PPI?

A

producer price index

reflects cost of production to calculate producer inflation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

how is PPI calculated?

A

it measures prices of manufactured goods and compares it to prices of imported goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

who calculates PPI?

A

Stats SA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what is the ALL INC INFLATION RATE?

A

also known as implicit GDP inflator

economists interested in total inflation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

how is ALL INC calculated?

A

measures GDP at constant prices

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

Economics P2: Inflation (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions