맨큐의 경제학 24장 복습문제

소개글

맨큐의 경제학 복습문제를 영어로 각 2문제씩 풀이해 놓은 레포트로 A+ 받은 것입니다.
그림이 더해서 칼라로 출력하면 더욱 좋습니다.

목차

2. Describe the three problems that make the consumer price index an imperfect measure of the cost of living.

5. Explain the meaning of nominal interest rate and real interest rate. how are they related?

본문내용

2. Describe the three problems that make the consumer price index an imperfect measure of the cost of living.

● consumer price index (CPI) : a measure of the overall cost of the goods and services bought by a typical consumer

① substitution bias
When prices change from one year to the next, they do not all change proportionately.
Consumers substitute toward goods that have become relatively less expensive.
If a price index is computed assuming a fixed basket of goods, it ignores the possibility of consumer substitution and, therefore, overstates the increase in the cost of living from one year to the next.
② introduction of new goods
As new goods are introduced, consumers have more choices, and each dollar is worth more. Yet because the consumer price index is based on a fixed basket of goods and services, it does not reflect the increase in the value of the dollar that arises from the introduction of new goods.

참고 자료

없음