Divide the cost of the market basket in year t by the cost of the identical market basket in the base year to get the CPI in any year. In 1984, the CPI was $75/$75 x 100 = 100. The Consumer Price Index (CPI) is simply an index number that is indexed to 100 in […]
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In 2008, the Irish economy suffered a deep recession, which was followed by an economic depression in 2009. According to the Economic and Social Research Institute, the economy will decrease by 14% by 2010. GDP was down 8.5 percent and GNP was down 12 percent in the first quarter of 2009 compared to the same
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In addition to updated fourth-quarter estimates, today’s announcement includes revised third-quarter 2020 wages and salaries, personal taxes, and government social insurance payments, all based on new data from the Bureau of Labor Statistics Quarterly Census of Employment and Wages program. Wages and salaries are now anticipated to have climbed by $434.5 billion in the third
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The US Inflation Rate is the percentage increase in the price of a selected basket of goods and services purchased in the US over a year. The US Federal Reserve uses inflation as one of the indicators to assess the economy’s health. The Federal Reserve has set a target of 2% inflation for the US
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The gross domestic product (GDP) is the total monetary worth of all products and services exchanged in a given economy. GDP growth signifies economic strength, whereas GDP decline indicates economic weakness. When GDP is derived through economic devastation, such as a car accident or a natural disaster, rather than truly productive activity, it can provide
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Gallup released results on Jan. 26 showing that the vast majority of Americans expect increasing inflation to last at least six months. All indications point to the general population getting it mostly right. “Inflation will continue to climb and remain elevated for the next few months,” said David Frederick, director of client success and advisory
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Poverty is exacerbated by inflation in two ways. The inflation tax, for starters, can lower disposable income. Second, workers’ real income will fall if nominal wages rise less than the price of items consumed by wage earners. Is inflation a source of poverty? Smetters explained that “what they happen to be buying has been hurt
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GDP is the total of an economy’s final expenses or overall economic production over a certain accounting period. Personal consumption expenditures, corporate investment, government expenditures, and net exports are the four key components used by the BEA to compute US GDP. The retail and service industries are vital to the economy of the United States.
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Inflation is the rate at which the price of goods and services in a given economy rises. Inflation occurs when prices rise as manufacturing expenses, such as raw materials and wages, rise. Inflation can result from an increase in demand for products and services, as people are ready to pay more for them. Some businesses
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Tesla is laying the groundwork for a future that isn’t bound by the problems of today. But will it be able to weather a downturn, or will it stall, dead in the water it was rising from? How did Tesla make it through the Great Recession? Tesla Motors nearly went bankrupt during the Great Recession
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