Chapter Review Chapter 23: The Cost of Living and Inflation
- The inflation rate is the percentage increase of the price level from one year to the next.
- The economy-wide costs of inflation are related to the distortions that inflation creates in relative prices and in the increased risk and uncertainty it generates.
- The consumer price index (CPI) is a measure of the cost of living for the typical household. The rate of change of the CPI is one of the most common measures of inflation.
- U.S. inflation was low through most of the early part of the twentieth century, rose sharply in the 1970s and early 1980s, fell to lower levels in the rest of the 1980s, and remained low throughout the 1990s. In different countries at different times, inflation has sometimes been very high, with prices increasing by factors of tens or hundreds in a given year.
Developed in collaboration with Sapling Systems, SmartWork is an innovative online homework management system. Customizable assignments combine with interactive feedback to create a powerful environment for both teaching and learning.
If the registration code in your book has expired, you can purchase a new registration code that will allow you to fully enroll in SmartWork here
New to SmartWork? Follow these instructions to create a new account.
Instructors now have an easy way to collect students’ online quizzes with the Norton Gradebook without flooding their inboxes with e-mails.
Students can track their online quiz scores by setting up their own Student Gradebook.
SITE REQUIREMENTS : Internet Explorer 6.0 or higher (PC), Safari 1.2 or higher (Macintosh), a Mozilla 5.0-compatible browser (i.e. Firefox, Mozilla Suite, Netscape 7.0, etc.), Macromedia's Flash Player 7.0 or higher.
» Click here to test your browser
Having problems? Contact Technical Support.