Exam 2 - Chapters 11-15 Wheaton - Econ 1312 Review sheet...

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Econ 1312 – Review sheet for Exam 2: Chapters 11-15Chapter 11 – Measuring the Cost of LivingWhat is theConsumer Price Index (CPI)?
How do youcalculate the CPI? (see back for example)
2.Find the price of each G&S3.Compute the basket’s cost4.Choose a base year and compute the index5.Compute the Inflation Ratea.What is the inflation rate?
What isIndexation?What is the equation toturn dollar figures from year T into today’s dollars? Give an
example.Chapter 12What isProductivity?
What is Production? What is theproduction function? What does the productionfunction tell us?oWhat is L?
oWhat is H?

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Term
Spring
Professor
wheaton
Tags
Macroeconomics, Consumer Price Index CPI, Unemployment, medical care, loanable funds

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