曼昆经济学原理Chapter-24PPT文件格式下载.ppt

曼昆经济学原理Chapter-24PPT文件格式下载.ppt

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MeasuringtheCostofLiving,1,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,TheConsumerPriceIndex,Consumerpriceindex（CPI）AmeasureoftheoveralllevelofpricesMeasureoftheoverallcostofgoodsandservicesboughtbytypicalconsumers,2,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,CalculatingCPI,Fixthebasket（ofgoodsandservices）WhichpricesaremostimportanttothetypicalconsumerDifferentweightassignedtoeachproductFindthepricesAteachpointintimeComputethebasketscost（foreachtime）ForthesamebasketofgoodsIsolatetheeffectsofpricechanges（bykeepingthebasketofgoodsthesame）,3,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,CalculatingCPI,ChoseabaseyearandcomputetheCPICPI:

@#@priceofabasketofgoods&@#@servicesincurrentyeardividedbypriceofthebasketinbaseyeartimes100CPIforthebaseyearis100Computetheinflationrate,4,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,Table1,5,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,CalculatingtheConsumerPriceIndexandtheInflationRate:

@#@AnExample,Thistableshowshowtocalculatetheconsumerpriceindexandtheinflationrateforahypotheticaleconomyinwhichconsumersbuyonlyhotdogsandhamburgers.,Table1,6,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,CalculatingtheConsumerPriceIndexandtheInflationRate:

@#@AnExample,Thistableshowshowtocalculatetheconsumerpriceindexandtheinflationrateforahypotheticaleconomyinwhichconsumersbuyonlyhotdogsandhamburgers.,TheConsumerPriceIndex,InflationratePercentagechangeinthepriceindexFromthepreviousperiodProducerpriceindex,PPIMeasureofthecostofabasketofgoodsandservicesboughtbyfirmsChangesinPPIareoftenusefulinpredictingchangesinCPIinnextperiod,7,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,Figure1,8,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,TheTypicalBasketofGoodsandServices,Thisfigureshowshowthetypicalconsumerdividesspendingamongvariouscategoriesofgoodsandservices.TheBureauofLaborStatisticscallseachpercentagethe“relativeimportance”ofthecategory.,TheConsumerPriceIndex,ProblemsinmeasuringthecostoflivingSubstitutionbiasPricesdonotchangeproportionatelyConsumerssubstitutetowardgoodsthathavebecomerelativelylessexpensiveIntroductionofnewgoodsMorevarietyofgoodsUnmeasuredqualitychangeChangesinquality（ofthesamegood）,9,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,GDPdeflatorversusCPI,GDPdeflatorRatioofnominalGDPtorealGDPReflectspricesofallfinalgoods&@#@servicesproduceddomesticallyCPIReflectspricesofgoods&@#@servicesboughtbyconsumersExcludepricesofnon-consumptiongoods（capitalgoods,intermediategoods）Includepricesofimported（consumer）goods,10,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,GDPdeflatorversusCPI,GDPdeflatorComparesthepriceofcurrentlyproducedgoodsandservicesTothepriceofthesamegoodsandservicesinthebaseyearCPIComparespriceofafixedbasketofgoodsandservicesTothepriceofthebasketinthebaseyear,11,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,Figure2,12,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,TwoMeasuresofInflation,ThisfigureshowstheinflationratethepercentagechangeinthelevelofpricesasmeasuredbytheGDPdeflatorandtheconsumerpriceindexusingannualdatasince1965.Noticethatthetwomeasuresofinflationgenerallymovetogether.,Application:

@#@CorrectingEconomicVariablesfortheInflationEffects,DollarfiguresfromdifferenttimesIndexationAutomaticcorrectionbylaworcontractOfadollaramountFortheeffectsofinflationCOLA:

@#@Costoflivingallowance（Eg.）Usedinadjustingpensionpaymenteachyear,13,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,RealandNominalInterestRates,NominalinterestrateInterestrateasusuallyreportedWithoutacorrectionfortheeffectsofinflationRealinterestrateInterestratecorrectedfortheeffectsofinflation=NominalinterestrateInflationrate,14,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,InterestratesintheU.S.Economy,NominalinterestrateexceedstherealinterestrateAslongasoneeconomyexperiencerisingconsumerprices（Inflation）RealandnominalinterestratesdonotalwaysmovetogetherBecauseinflationratevariesovertimePeriodsofdeflation（Japansince1990s）Realinterestrateexceedsthenominalinterestrate,15,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,Figure3,16,2012CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.,RealandNominalInterestRates,Thisfigureshowsnominalandrealinterestratesusingannualdatasince1965.Thenominalinterestrateistherateona3-monthTreasurybill.Therealinterestrateisthenominalinterestrateminustheinflationrateasmeasuredbytheconsumerpriceindex.Noticethatnominalandrealinterestratesoftendonotmovetogether.,