Examlex

Solved

Suppose the CPI Is Currently 147

question 30

Essay

Suppose the CPI is currently 147. If the CPI last year was 140, what was the rate of inflation over the period.


Definitions:

Private Consumption

The total value of all goods and services consumed by households and individuals within an economy, excluding government spending and investments.

Gross Investment

The total amount spent on purchases of new capital assets plus replacement of worn-out or obsolete assets.

Gross National Income

The total domestic and foreign output claimed by residents of a country, including wages, salaries, and property income.

Gross Domestic Product

The sum value in currency or market terms of every finished product and service created within a country during a specified period.

Related Questions