Table 6-2 
-Refer to the Table 6-2.Suppose that the basket of goods in the CPI consisted of 3 units of pork and 4 units of corn.What is the consumer price index for 2015 if the base year is 2014?
Definitions:
Classical Dichotomy
The theoretical separation of nominal and real variables in classical economics, suggesting that changes in the money supply only affect nominal variables.
Inflation Rate
An upward movement in the overall price level of goods and services in an economy over time.
Aggregate Demand
Aggregate request for products and services in an economy, measured at a particular general price level throughout a defined time interval.
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, reflecting inflation or deflation.
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