What is a consumer price index? How is it constructed? Why does the index become increasingly unreliable over time?
Answer to relevant QuestionsWhat is aggregate demand? Draw an aggregate demand curve and explain its shape. What factors influence aggregate demand? Calculate the GDP deflator for the following years for the Canadian economy, using 2001 as the base year. What is an investment good? Why are some investment goods unintended? How does autonomous consumption fit into the consumption equation? Calculate consumption for each level of national income, given the accompanying levels of autonomous consumption, C a , and marginal propensities to consume.
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