What Good is the Consumer Price Index, Anyway?

One of the first things people learn in their Intro Macro course is that prices change. Before we get into why that happens, let’s think about one of the other things we’ve already talked about: purchasing power and the associated concept, purchasing power parity. One way to measure purchasing power is to look at how [...]

Source: http://thebadeconomist.com/2011/03/14/what-good-is-the-consumer-price-index-anyway/

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