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I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.
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What are the effects of a fall in Gross Domestic Production (GDP)?
Hello Chris
Consumer price index is a price set for a basket of goods. At different time this price is compared with actual price of goods. This shows increase or decrease in price. In UK, CPI was increased 2.5 percentage in June 2006 from last 12 month. In Jan 2010 it was at 112.4 and after 12 month it was 116.9. Change in CPI is 116.9-112.4=4.5points (4%)
Petrol rate in CPI in Jan 10 was 1.11pond and in Jan11 it was 1.27 per liter(14%). So its rate increased more than whole CPI. Actually effect of energy inflation is more than its data show. Sometime other prices also increase due to increase in energy prices because energy is an important input in production of many other component of CPI. RPI has higher weight of petrol than CPI.
how the supply side policies will effect the economic growth….????
how supply side policies effect economic growth..???
Hi, I have an input ouput modeling qestion.
When looking at final demand for input output modelling do you take out the purchase price of the intermediate good to form final demand?
whats economics of well being all about