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Ch 5: Inflation Measurement and Adjustment: Tutoring Solution

About This Chapter

The Inflation Measurement and Adjustment chapter of this College Macroeconomics Tutoring Solution is a flexible and affordable path to learning about inflation measurement and adjustment. These simple and fun video lessons are each about five minutes long and they teach all of the operations used to measure inflation and make adjustments required in a typical college macroeconomics course.

How it works:

  • Begin your assignment or other macroeconomics work.
  • Identify the inflation measurement and adjustment concepts that you're stuck on.
  • Find fun videos on the topics you need to understand.
  • Press play, watch and learn!
  • Complete the quizzes to test your understanding.
  • As needed, submit a question to one of our instructors for personalized support.

Who's it for?

This chapter of our college macroeconomics tutoring solution will benefit any student who is trying to learn about inflation measurement and adjustment and earn better grades. This resource can help students including those who:

  • Struggle with understanding the Consumer Price Index, GDP deflator, nominal and real GDP, multiplier effect, cost-push inflation or any other inflation measurement and adjustment topic
  • Have limited time for studying
  • Want a cost effective way to supplement their economics learning
  • Prefer learning economics visually
  • Find themselves failing or close to failing their inflation measurement and adjustment unit
  • Cope with ADD or ADHD
  • Want to get ahead in macroeconomics
  • Don't have access to their economics teacher outside of class

Why it works:

  • Engaging Tutors: We make learning about inflation measurement and adjustment simple and fun.
  • Cost Efficient: For less than 20% of the cost of a private tutor, you'll have unlimited access 24/7.
  • Consistent High Quality: Unlike a live economics tutor, these video lessons are thoroughly reviewed.
  • Convenient: Imagine a tutor as portable as your laptop, tablet or smartphone. Learn about inflation measurement and adjustment on the go!
  • Learn at Your Pace: You can pause and rewatch lessons as often as you'd like, until you master the material.

Learning Objectives

  • Explain how the consumer price index (CPI) represents the cost of living and inflation.
  • Differentiate between the consumer price index and the GDP deflator.
  • Understand how the CPI may overstate inflation.
  • Learn how to compare wages for two cities by adjusting for inflation.
  • Compare and contrast nominal and real GDP.
  • Understand how to calculate real GDP.
  • Explain how to calculate real GDP growth rates.
  • Describe the multiplier effect.
  • Learn how the supply side of the economy can lead to inflation.
  • Compare and contrast demand-pull and cost-push inflation.
  • Take a look at the ways inflation can affect suppliers and demanders.

12 Lessons in Chapter 5: Inflation Measurement and Adjustment: Tutoring Solution
Test your knowledge with a 30-question chapter practice test
Consumer Price Index: Measuring the Cost of Living and Inflation

1. Consumer Price Index: Measuring the Cost of Living and Inflation

In this lesson, you'll learn what the Consumer Price Index is and how it measures changes in the level of prices in an economy. You'll also learn about the important economic concepts of inflation and deflation. Why do prices always seem to be going up?

The GDP Deflator and Consumer Price Index

2. The GDP Deflator and Consumer Price Index

Have you ever wondered how inflation is measured? This lesson will compare and contrast two of the indicators used to measure inflation - the consumer price index and the GDP deflator.

Consumer Price Index and the Substitution Bias

3. Consumer Price Index and the Substitution Bias

In this lesson, you'll learn about the Consumer Price Index and how it is measured. You'll also learn why many economists believe that the Consumer Price Index overstates inflation.

Adjusting Wages for the Inflation Rate

4. Adjusting Wages for the Inflation Rate

Have you ever heard your parents complain that a dollar doesn't go as far as it used to? In this practical lesson, learn how to calculate the real wage by adjusting the nominal wage to account for changes in the price level within the economy.

Gross Domestic Product: Nominal vs. Real GDP

5. Gross Domestic Product: Nominal vs. Real GDP

Watch this video and you'll learn the difference between nominal GDP and real GDP with the help of a memorable story about a competition between twin brothers.

Gross Domestic Product: How to Calculate Real GDP

6. Gross Domestic Product: How to Calculate Real GDP

Learn how to adjust economic output for inflation using real GDP. This calculation enables economists to remove the effect of rising prices and more accurately compare economic output from multiple years.

How to Calculate Real GDP Growth Rates

7. How to Calculate Real GDP Growth Rates

How can you tell how much the economy is really growing from year to year? In this lesson, you'll discover the formulas economists use to calculate real GDP growth rates and draw conclusions about real economic growth.

The Multiplier Effect and the Simple Spending Multiplier: Definition and Examples

8. The Multiplier Effect and the Simple Spending Multiplier: Definition and Examples

When money is spent in an economy, this spending results in a multiplied effect on economic output. This lesson explains the multiplier effect and the how to use the simple spending multiplier to calculate it.

Cost-Push Inflation: How the Supply Side of the Economy Leads to Inflation

9. Cost-Push Inflation: How the Supply Side of the Economy Leads to Inflation

Learn about cost-push inflation, when higher production prices lead to an increase in prices within the economy. Using real-world examples, this lesson describes what it is, what causes it and how economists illustrate it.

Demand-Pull Inflation vs Cost-Push Inflation

10. Demand-Pull Inflation vs Cost-Push Inflation

Discover two basic types of inflation, demand-pull and cost-push inflation. Learn what factors cause each type of inflation and some of the key differences between each.

Effects of Inflation on Suppliers and Demanders

11. Effects of Inflation on Suppliers and Demanders

In this lesson, you'll discover who benefits and who suffers from a sustained increase in prices within an economy. We'll cover the effects of expected and unexpected inflation on savers/creditors and borrowers/debtors.

Stagflation: Definition, Causes & Effects

12. Stagflation: Definition, Causes & Effects

There are different types of economic problems, but few match stagflation. In this lesson, you'll learn what stagflation is, what causes it, and how it affects an economy suffering from it. A short quiz follows the lesson.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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