Which of the following statements concerning the history of u.s. inflation is not correct?
- Which of the following statements concerning the history of u.s. inflation is not correct?
- Slavery – crash course us history #13
- Covid-19: the great reset
- Samuel fletcher (minnesota): reduction, emergence, and
- Thomas sowell – the real history of slavery
- I asked bill gates what’s the next crisis?
- The great reset launch | highlights
Slavery – crash course us history #13
Economists carry out two separate but connected tasks. They perform economic analysis, such as determining cause and effect. Why did unemployment rise so quickly in 2008 and 2009, for example? Economists may also provide policy advice. What should the federal government do, for example, in response to rising unemployment?
The first is economic science, which is focused on hypotheses and facts and seeks to understand how the world (or at least the economy) functions. Positive logic is used here, and the results are referred to as positive statements. Since employment is dependent on economic development (i.e. GDP), one reasonable inference is that the rise in unemployment was caused by the slowdown in GDP during that time period. The Great Recession is the name given to this period of slowing.
The second practice is more subjective, and it is invariably founded on the researcher’s beliefs. The process is known as normative reasoning, and the results are known as normative statements. Since unemployed workers are not making money, a policy suggestion could be for the government to try to boost demand in the economy so that unemployed workers can return to work. Another policy recommendation may be that stimulating demand might result in a greater federal budget deficit, which future generations would have to pay for through higher taxes, so the government should avoid doing so. Which of these suggestions is the most appropriate? That is dependent on your personal values.
Covid-19: the great reset
After the end of World War II, the United States has undergone nearly constant inflation, or an increase in the price of goods and services in general. Before that war, it would be difficult to find a comparable time in American history. Prior to World War II, the United States had a history of long stretches of deflation. It’s worth noting that the Consumer Price Index (CPI) in 1941 was almost identical to that of 1807.
In comparison to the 1970s and early 1980s, inflation has remained low for more than two decades. This is valid regardless of one of the many official price indices available is used to measure the rate at which goods and services prices rose. A low inflation rate is particularly important because, according to many figures, the US economy was completely employed, if not overly so, for the last three years of the 1991-2001 expansion and in 2006-2007. Despite this, inflation only increased modestly, contrary to expectations. It’s a tough policy challenge to keep an economy going in the direction of full employment without causing higher inflation.
Samuel fletcher (minnesota): reduction, emergence, and
The CPI market basket is based on comprehensive spending data given by families and individuals on what they actually purchased. The spending survey and its use in the CPI are separated by a period of time. For example, data from the Consumer Expenditure Surveys for 2013 and 2014 were used to calculate the CPI in 2016 and 2017. Approximately 24,000 consumers from around the country participated in the interview survey each quarter, providing details on their spending behaviors. Another 12,000 customers kept diaries detailing everything they bought over a 2-week cycle in each of these years to gather information on commonly purchased goods like food and personal care products.
Approximately 24,000 weekly diaries and 48,000 quarterly interviews were used to assess the value, or weight, of the item categories in the CPI index system over the two-year period.
Initiation is the mechanism by which a specific item is added to the CPI sample. This initiation process, which is usually carried out in person by a CPI data collector, entails choosing a particular item to be priced from the category that has been allocated for pricing at that store. Consider the case where a specific grocery store has a cheese pricing outlet. A specific type of cheese will be chosen, and the probability of it being chosen is approximately proportional to its popularity. If cheddar cheese in 8 oz. packages accounts for 70% of all cheese sales, and the same cheese in 6 oz. packages accounts for 10% of all cheese sales, and the same cheese in 12 oz. packages accounts for 20% of all cheese sales, the 8 oz. package is 7 times as likely to be selected as the 6 oz. package. After the probabilities have been allocated, an objective selection method based on the principle of random sampling is used to choose one form, brand, and container size of cheese. Every month, the same outlet will price the specific type of cheese that has been chosen.
Thomas sowell – the real history of slavery
When the general price level increases, each unit of currency buys less goods and services; as a result, inflation represents a loss of buying power per unit of capital – a real value loss in the economy’s medium of exchange and unit of account.
I asked bill gates what’s the next crisis?
The great reset launch | highlights
[number six] Deflation is the polar opposite of inflation, which is described as a prolonged drop in the overall price level of goods and services. The inflation rate, which is the annualised percentage rise in a general price index, typically the consumer price index, over time, is a common indicator of inflation. [nine]
Extremely high rates of inflation, also known as hyperinflation, are thought to be dangerous and are triggered by an unsustainable expansion of the money supply, according to economists.
[eight] The opinions about what factors decide low to moderate inflation rates are more diverse. Low or moderate inflation can be due to increases in actual demand for goods and services, as well as changes in supply, such as during scarcities. [nine] The consensus view, on the other hand, is that long periods of prolonged inflation are triggered by the money supply rising faster than the pace of economic growth. [nine] [nine]