Qualification > Commerce
ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!
Freaked12:
--- Quote from: hmh on June 07, 2009, 02:24:30 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:22:22 pm ---
--- Quote from: hmh on June 07, 2009, 02:19:50 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:15:44 pm ---whats the difference between a RPI and inflation??
--- End quote ---
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
--- End quote ---
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
--- End quote ---
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
--- End quote ---
it came in the Novmeber 2008 paper how to calculate inflation
so please check whether my answer is correct
The average price of the basket of products bought by a typical household in the first year of calculation or the base year is given the number 100.Then,if on average,prices rise by 25 percent than the price index at the end of the second year will be 125.Than,if on average,prices rise by 10 percent than it would be 137.5(125 * 10%)+125.This tells us consumer prices have risen on average by 37.5 percent over the two year period.
please tell any modifications if needed in the answer
al noor:
--- Quote from: hmh on June 07, 2009, 02:31:37 pm ---u owe me nothing m8.. Gud luck for exam :)
--- End quote ---
Gd luck 2 u 2...By the way what lessons do u think is really IMP??
By the way guyz what r ur predictions for 2mrws exam??
hmh:
--- Quote from: Freaked12 on June 07, 2009, 02:32:17 pm ---
--- Quote from: hmh on June 07, 2009, 02:24:30 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:22:22 pm ---
--- Quote from: hmh on June 07, 2009, 02:19:50 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:15:44 pm ---whats the difference between a RPI and inflation??
--- End quote ---
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
--- End quote ---
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
--- End quote ---
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
--- End quote ---
it came in the Novmeber 2008 paper how to calculate inflation
so please check whether my answer is correct
The average price of the basket of products bought by a typical household in the first year of calculation or the base year is given the number 100.Then,if on average,prices rise by 25 percent than the price index at the end of the second year will be 125.Than,if on average,prices rise by 10 percent than it would be 137.5(125 * 10%)+125.This tells us consumer prices have risen on average by 37.5 percent over the two year period.
please tell any modifications if needed in the answer
--- End quote ---
I think its fine.. as long as there r numbers.. u can read my answer above tht may help :)
Name:
hey, do we need numbers to show how inflation is calculated?
hmh:
--- Quote from: Name on June 07, 2009, 02:59:25 pm ---hey, do we need numbers to show how inflation is calculated?
--- End quote ---
not necessarily.. but if they actually give u the numbers ..then u should use them.
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