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Business
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Number of pages / Number of words: |
14 / 3654 |
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The six indicators that we have chosen are the inflation rate as it is measured by the consumer price index (CPI), personal income, the impact of the real GDP, unemployment rate, foreign exchange rate, and retail sales.
INFLATION RATE MEASURED BY CPI: (Consumer Price Index)
Inflation is a continual rise in the price level and the price level is an index of all prices in the economy...
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Therefore, the Consumer Price Index (CPI) is a measure of the average change in prices over time of goods and services purchased by households. The Bureau of Labor Statistics publishes CPIs for two population groups: (1) the CPI for Urban Wage Earners and Clerical Workers (CPI-W), which covers households of wage earners and clerical workers that comprise approximately 32 percent of the total population and (2) the CPI for All Urban Consumers (CPI-U) and the Chained CPI for All Urban Consumers (C-CPI-U), which cover approximately 87 percent of the total population and include in addition to wage earners and clerical worker households, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force...
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General points of the essay
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The unemployment rate
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