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Macro: Unit 1.6 -- Price Indices and Measuring Inflation
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Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Practice using market basket data over consecutive years to calculate the Consumer Price
Index number
- Demonstrate how a country can use CPI numbers to measure inflation over time
- Practice using GDP data over consecutive years to calculate the GDP Deflator
number
- Demonstrate how a country can use GDP Deflator numbers to measure inflation over time
- Demonstrate how to calculate the percentage change in nominal wages and profits and
compare those changes to the inflation rate to determine whether real wages and profits
increased or decreased over time
Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:
Follow our store on Teachers Pay Teachers
Look for us on Social Media:
Subscribe to our YouTube Channel:
In this video, I will:
- Practice using market basket data over consecutive years to calculate the Consumer Price
Index number
- Demonstrate how a country can use CPI numbers to measure inflation over time
- Practice using GDP data over consecutive years to calculate the GDP Deflator
number
- Demonstrate how a country can use GDP Deflator numbers to measure inflation over time
- Demonstrate how to calculate the percentage change in nominal wages and profits and
compare those changes to the inflation rate to determine whether real wages and profits
increased or decreased over time
Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:
Follow our store on Teachers Pay Teachers
Look for us on Social Media:
Subscribe to our YouTube Channel:
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