"drawing board" on their website. Watch the following video and in your post you must do two things.
1) Come up with a legitimate higher order thinking question over material covered in the video.
2) Provide an answer to someone else's question that they posted. (In your answer be sure to list whose question it is you are answering.)
My first question is "How is the economy like Goldilocks?"
70 comments:
2) To Mr. Pye's question: The economy is like Goldilocks in how the most efficient place to be is always the equilibrium, which is generally the middle. When anything is too high or low, not everyone is efficient; they are wasting something, never really for the benefit of the whole. The middle is also generally the most stable because it is the closest point to the big picture that outliers can skew up in data. For instance, when something is over the middle, it can be too hard to reach and fulfill; when something is below the middle, anyone could reach it, which means some will not even take it seriously, which is pretty wasteful. Thus, the middle, Goldilock's favorite state, is like the economy in how it is more representative of an average when averages aren't representative of the average consumer.
1) How is inflation not necessarily governed by demand?
Amy Krauhs
Period 4
Jacqueline Gann
Period 2
1) Why is Median CPI significantly more accurate at gauging inflation than the overall CPI? Why is this accuracy important?
2) Amy Krauhs' question: Inflation is not necessarily governed by demand because a swing in price caused by a higher or lower demand for a product is just that, a swing. The raise in price of one good or service doe not necessarily indicate inflation because of its relative price change. Although demand is a large factor of inflation, it is not always governed by it.
Nevin Thomas
Period 2
1) Why does a change on prices for one product not affect the inflation rate?
2) Jacqueline Gann's Question: The median CPI is more accurate because it finds the overall trend of prices and doesn't use outliers like the overall CPI. This makes sure that the prices aren't pulled or pushed by one product, it is important because it gives us a better prediction on inflation.
Bethany Williams
Period 2
1.) How does calculating CPI and Median CPI allow us to predict inflation for the future? Why do we care?
2.) Nevin Thomas' Question: A change in price of one product doesn't affect inflation rate because of supply and demand. While that one product is being demanded more (explaining the higher price), another product isn't being demanded nearly as much, which is driving the price down, so the prices balance each other out.
Laura Luo pd 4
1) How are consumer goods like "bees in a swarm"? Explain using an example and what do bees represent in this analogy?
2)Bethany Williams's question: Both regular and median CPI measure the changes in a price of goods and services people buy. CPI tracks the overall group of goods changes each month to make the cost of living cost, social security, rent affordable to some. We care because by calculating an accurate inflation rate the federal reserve may adjust policies that may make stable prices and stable employing rates- both that are good to us.
Rachel Chang
2nd period
To Laura Luo's question: each bee represents a category in which consumers spend money. The size of the bee shows the weight of the category, or how much we spend on it per month, and the direction that the bee moves shows either inflation or deflation, as well as the magnitude. To get CPI, add up all the directions of the bees and the general size of the bee (price) and divide by the number of bees (categories).
Why is the bee analogy not a perfect illustration of CPI? What assumptions must be made? What are the flaws of CPI?
Audrey Hermes
2nd Period
How is the Median CPI determined? Why is it more beneficial than simply the overall CPI or the core CPI? How does the Median CPI help in determining month to month inflation?
Rachel Chang's question: The bee analogy is not perfect because individual bees move in different directions than the whole swarm. However, it does not make sense to disregard the movement of the swarm as a whole just because of a few bees. CPI does not account for substitutional goods--which are not inflation.
1) To Rachel Chang's question:The bee analogy is not a perfect illusion of CPI because if there are a few big bees or a lot of small bees wandering away from the swarm, they will bring down the average down. We're assuming that all prices move uniformly in one direction or another, which is not true. Although this method is a good indicator of measuring inflation, it is not perfect. Some flaws of CPI are that it doesn't take into account new products that are introduced into the market for a at least a couple years and also the improvement of quality of products isn't measured in it.
2) Is inflation necessarily bad for the economy? Why or why not?
Aiah Tisha Ebueng
Period 2
1) What does the RMSE say bout the accuracy of the Median CPI compared to overall CPI? Why would someone want the CPI to be more accurate, how would it affect them?
2) To answer Audrey Hermes' question:
The median CPI is determined by taking the price change right in the middle of a long list of price changes instead of taking the average of all the price changes. It is beneficial because while overall CPI is effected by relative price changes that go away when looking at a time span of say, 3 years, median CPI give a more accurate direction when it comes to the general movement of prices, or inflation. This helps us determine month to month inflation by not letting spikes in prices of individual good (relative price changes) influence the general direction of prices .
Cecil Sabu
Period 2
1) If there is an outlier that is significant enough to cause a huge change in the inflation rate, wouldn't using the Median CPI exclude this piece of data, giving an inaccurate inflation rate?
2)Laura Luo's Question: Consumer goods are like bees in a swarm because bees usually fly in a big group with a few bees that wander off a little too high or a little too low. Similarly, in an economy, the prices of many products rise or fall together with a few exceptions that either rise or fall much more than the rest of the group. Also, the bees are just supposed to represent the many different goods that are included in an economy.
Manon Hughes
Period 6
1) If CPI is an inaccurate measurement, then why do we still employ it? What is essentially telling us if it is flawed?
2) Cecil Sabu's question: Median is actually the best measurement because median is least affected by outliers. Mean would be more affected and, therefore, less accurate.
Fabian Romo
Period 4
1) If the Median CPI more efficient in predicting inflation rates, then why is the overall CPI used when these outliers have been a big issue?
2) Benjamin Kurian's question: Inflation is of course not always bad for the economy. A case of moderate level of inflation that matches the rate at which a country is growing is beneficial for said country. So if the U.S inflation was 2%, and it was growth was at a 2.5% it would be perfectly fine.
When is inflation good for an economy?
To answer Manon's question, CPI is needed to help understand the total return required for an investor to meet their financial goals. However, it is flawed. The flaw is in the sense that it is not a great indicator of current inflation at all. Although CPI is useful, it is also flawed in some areas.
Aadithya Srivatsav
Period 4
Paul Stallings
Period 6
1. Why is it that price swings cannot be counted as inflation?
2. Aadithya Srivatsav's question: Inflation can be good for the economy because over time it has the ability to erode small amounts of debt. In addition, inflation also has the ability to increase workers wages and pay which would increase spending ability. Furthermore, inflation can also lead to more growth in the economy, and this represents a positive aspect.
Patrick Stallings
Period-4
1.What is the advantage of Median CPI?
2. Nevin Thomas' question: The price of one product does not affect the entire market. This is true even if the price goes up by a substantial amount. Therefore, the overall inflation rate would not be affected because the rise in price of a single product does not mean a rise of total inflation rate.
Tom King, Period 4
1) Say there were multiple large corporations contributing to a higher proportion of the GDP going upwards, but many more smaller companies with smaller shares of the GDP going downwards. The Median CPI would give an account of the general trend of the economy going downwards even though a major factor is turning upwards. Is median CPI based on the no. of companies not relative to size truly resourceful in such a scenario with opposite trends for corporations and small enterprises.
2) To answer the Patrick Stalling question :
The median CPI helps find an accurate measure of CPI not influenced by one LARGE factor. This means exclusion of that one large corporation going against the trend but taking down the CPI with it thereby giving inaccurate estimation of CPI.
However in order to exclude that one company, the Median CPI may bypass other large corporations as well as mentioned in my question above.
Tom King, Period 6****
1) Say there were multiple large corporations contributing to a higher proportion of the GDP going upwards, but many more smaller companies with smaller shares of the GDP going downwards. The Median CPI would give an account of the general trend of the economy going downwards even though a major factor is turning upwards. Is median CPI based on the no. of companies not relative to size truly resourceful in such a scenario with opposite trends for corporations and small enterprises.
2) To answer the Patrick Stalling question :
The median CPI helps find an accurate measure of CPI not influenced by one LARGE factor. This means exclusion of that one large corporation going against the trend but taking down the CPI with it thereby giving inaccurate estimation of CPI.
However in order to exclude that one company, the Median CPI may bypass other large corporations as well as mentioned in my question above.
To answer Tom King's Question: Median CPI is the middle measure of the price change in products. Thus it will not measure the of companies, it will only measure the middle value of all products,whether it be produced in a large company or small company.
Will median CPI have a different affect on GDP and GNP? If so, how will it affect both?
Renuka Gondi
4th period
1.) How do you calculate median CPI
2.) To answer Aadithya Srivatsav question: They point out that inflation can erode the cost of debt over time. More importantly, perhaps, it can boost wages and growth.
Nikhil Njaravelil
4th Period
Sherin Johnson
6th period
To answer Nikhil's question in order to calculate the median CPI you take a look at the categories listed by the BLS, but instead of taking the average (price changes/$ of items), it looks at the median price change, or the price change thats right in the middle of a list of the price changes.
What is/are the benefit(s) of calculating the normal CPI when the median CPI is 50% better at predicting inflation than CPI and 25% better than core CPI?
Tia Lal
Period 2
1)How is CPI calculated and why are the average price changes weighted?
2)Sherin Johnson's question: CPI tracks how the price of the overall group of goods changes each month. This figure is often used to make adjustments in the cost of living, the amount of social security benefits received, and the amount of taxes needed to be paid.
Why is it better to look at the median CPI when there could be many outliers pulling it down dramatically?
To answer Tia Lal's question, CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. The reason goods are weighted is because some have a greater importance in the overall CPI. The greater the effect on the CPI, the greater the weight of that good will be.
Rachel Kuruvila
Period 4
What other statistical tools besides median, could be used for a similar purpose as median CPI?
Aad's question
Inflation can chip out the debt over time as well as boost wages and growth.
Todd Podbielski
6th period
1). Why is it that the Bureau Labor of Statistics uses the CPI instead of the Median CPI?
2) Paul Stallings' Question: The price swings cannot be counted as inflation because the price change is a swing so it rises and drops and therefore cannot accurately judge inflation.
Amitabha Mitra
6th Period
Benjamin Kurian
Period 2
1) Why do most people believe that Median CPI is more accurate than using CPR?
2) Amitabha Mitra's question: The reason BLS uses CPI is because they want to exclude food and energy prices. They do this because food and energy are subject to huge price swings that have nothing to do with inflation.
Benjamin Kurian
Correction:
*1) Why do most people believe that Median CPI is more accurate than using CPI*?
Muizz Soomar
2nd Period
1) How would you determine which method you would choose, either median CPI or CPI by the given data?
2) Answer to Benjamin Kurian's Question:
Most people believe that median CPI is more accurate than regular CPI because it has a better accuracy of the data. The median CPI shows inflation unlike regular CPI. Also median CPI is not really affected by outliers since it is chosen from the middle of the data.The regular CPI is calculated to find the average of all the data which will be greatly affected by the outlier data.
1) Why is it important to predict inflation trends? What would happen if inflation hit without us knowing?
2) Muizz's Question: Given a perfect scenario with predictable data sets there is a clear answer to your question. CPI would be used for normally distributed data sets while median CPI would be used when there is an outlier, which in this cause is defined as one product's price increasing dramatically. However, the economy is no tamed beast. Putting in the work to thread out these outliers would be counterproductive. The answer to your question, then, is to use median CPI in all scenarios. It gives the most accurate CPI because the median is affected by the amount of change of the group rather than of an individual. Having the ability to represent an entire group, gives the median CPI the edge, which can be seen through its decent track record.
Minh Le
Period 4
Christian Do
Period 4
1) How does inflation affect businesses or corporations, also, how does inflation affect the global market?
2) To Reuben Kurian's Question: Inflation is sometimes necessary, governments sometimes even pump out large amounts of money to increase inflation to decrease unemployment, as the two are opposites on a seesaw. Therefor inflation is not always necessarily bad for the economy, but having too much inflation for an extended amount of time will be terrible for the economy.
Brian Huynh
Period 4
1) Is there any benefits to using CPI when compared to Median CPI?
2) Nevin Thomas question - A price change on one product does not determine inflation rate because when an inflation occurs, it is when the general prices of all products increase.
Elyssa Buntzel
4th pd.
1) If CPI is flawed and inaccurate, why is it still in use?
2) Rachel Changs question:
the bee analogy is not perfect due to individual bees moving seperate from the whole swarm. CPI is flawed because it doesn't not account for substitutional goods.
Christine Nguyen
period 6
1) How do you suppose Irving Fisher ( the economist with the "bees in a swarm" concept) came up with his concept of Median CPI?
2) Minh's Question: It is important to predict inflation so that we may prepare ourselves for any type of economy decline. It will give us an idea of where our economy is headed and will also allow us to figure out why our economy will experience inflation and how we can improve it for the future.
Zoheb Hirani Period 4
1) Why are fuel and energy prices so much more volatile than other things?
2) In response to the lovely Christine Nguyen, (How do you suppose Irving Fisher ( the economist with the "bees in a swarm" concept) came up with his concept of Median CPI?, the Median CPI concept was probably came up with as a response to annoying outliers. I remember being really annoyed during chemistry labs when one trial would not match up and it would ruin our entire average result. In this way, choosing a median serves to go around the data mistakes an average can cost. Irving probably dealt with crunching a lot of numbers so he tried it out on CPI values and it turned out a lot better.
Guadalupe Alvear Period 2
1) Why is CPI not the most effective way to calculate inflation?
2) Zoheb's question: Fuel and energy prices are so much more volatile than other goods because the production of fuel and energy in several locations around the world can be affected by wars and natural disasters.
Joshua Roy
Period 2
1) Why does Median CPI look at median price change rather than average price change? Is it better to use Median CPI when calculating inflation than CPI?
2) To Guadalupe Alvear's Questoin: CPI is not the most efficient method to determine/predict inflation because relative price changes have a large impact on the inflation calculated.
Joshua Roy
2nd Period
*Correction
2) To Guadalupe Alvear's Question: CPI is not the most efficient method to determine/predict inflation because relative price changes have a large impact on the inflation calculated. Over an extended period of time, these price swings are not relevant in calculating inflation. In addition, only the price of one good rises, not all others.
1. Which do you think is a more accurate representation of inflation within the economy, the average CPI or the median CPI?
2. Josh Roy, median CPI looks at the median because as stated in its name, it measures the median. When we measure the median of something, then we can see the general direction the economy is heading. No, I do not think that the median CPI is better at measuring inflation than the average CPI because when we take the average CPI, we are getting the average price of all the items in the CPI, but if we take the median of the CPI one year, the median item may not have changed alot which would leave the CPI to be about the same and tell us that there is no inflation going on. P.S: My fantasy team > yours ;)
Jeffrey Zhou
6th
Jonathan Winfiele
2nd
1) Can a more accurate measure of CPI affect the consumers in an Economy?
2) To Joshuas question: The Median CPI looks to the middle number because it the CPI is based off the middle price. I looks for the more accurate Pricing the Pricing that is in the middle of the stack instead of the extremes of high and low. I do believe that the Median CPI is the way to go. Like the video said " if there is one bee all the way in left field" it cause for an inaccurate reading in the average. It could really hinder us to see that the CPI is either worst off or Better than it actually is. Going the Median Route elementals that Because it is going for the middle price where we can gain a more accurate reading where the CPI is truly located.
Jonathan Winfiele
Correction to Jeffery's Question:
I do believe that the Median CPI is the way to go. Like the video said " if there is one bee all the way in left field" it cause for an inaccurate reading in the average. It could really hinder us to see that the CPI is either worst off or Better than it actually is. Going the Median Route elementals that Because it is going for the middle price where we can gain a more accurate reading where the CPI is truly located.
Annie Jiang
Period 4
1)What is the problem of using CPI to measure inflation?
2)To Jeffrey Zhou's Question: The median CPI is a more accurate representation of inflation within the economy because it focuses on the middle prices whereas the average CPI focuses on all of the prices. The average can be highly affected by just one number, which can throw off the whole average. The median CPI is more reliable because it fixates upon the price where most of the prices are clustered.
1) How long should a significant change in price of a good persist in order to not be considered just a spike?
2) To answer Jonathan's question, a more accurate measure of CPI can affect consumers in several ways. The most apparent way would probably be the subsequent change in the amount of social security allocated to people by the government after a change in CPI. Since the government looks at CPI to determine how much Social Security to give to people, if it went up consumers would get more, if it went down consumers would get less.
Tosin Olabinjo
4th period
Sylvester Inyang
Period 2
1) What is the diffrence between average and median CPI?
2) To answer Tosin's question i think i should go on long enough to a point where the resource ans materials used to make the good are scarce enough that it has to stay at the increased price point
1) Why do we still use CPI if it is not an accurate measurement?
2) Answering Ben Kurian's question:
People believe that median CPI is is a more accurate measurement than CPI because median CPI takes inflation into account. Also, like in any set of data, the median number is usually the most representative value for that set, as median, unlike the average, can ignore outliers.
Nima Faegh
4th Period
Amy Nguyen
6th period
1) How does the Bureau of Labor Statistics avoid price swings?
2) Sylvester's question: The difference between the average and median CPI is that the average CPI is the average of the price index based on a particular group of goods. Median CPI is the middle of the range of changes in price index of the particular group of goods.
Lillian Nguyen
Period 2
1)How much more accurate is the Median CPI compared to the CPI and the Core CPI?
2) To answer Amy's question, the Bureau of Labor Statistics avoid price swings, which can affect the change in price index, by excluding food and energy prices as they are subjected to large price swings.
Lynnie Dickson
Period 6
1) How do core prices prevent miscalculation of CPI for the Bureau of Labor Statistics?
2) Answering Amy Nguyen's question:
The BLS gives a higher weight to goods that consumers spend a larger proportion of their income on when compared to goods that not as many consumers purchase. For example, housing will have a greater importance in comparison to luxury goods like jewelry. This is done to get a better picture of the spending of consumers.
Lynnie Dickson
Period 6
1) How do core prices prevent miscalculation of CPI for the Bureau of Labor Statistics?
2) Answering Amy Nguyen's question:
The BLS gives a higher weight to goods that consumers spend a larger proportion of their income on when compared to goods that not as many consumers purchase. For example, housing will have a greater importance in comparison to luxury goods like jewelry. This is done to get a better picture of the spending of consumers.
Carlo Torres
1. Why should we consider price swings even though they are not part of inflation?
2. To answer Christian "Do Boy"'s question, there will be wage inflation and reduced value of debt if corporations have inflation. Also, unexpected inflation in the economy may occur and reduce the value of a country's coin than expected.
1) Does CPI reflect seasonal adjustments in data?
2) To answer Lynnie's question "How do core prices prevent miscalculation of CPI for the Bureau of Labor Statistics?"...The core prices exclude the prices of food and energy because these prices are often highly influenced by changes in weather and unforeseen events. Thus, the core prices can generally prevent a lot of miscalculation of CPI for the Bureau of Labor Statistics.
Nina Jiang
Pye 4th
Kimberly Mendez
Period 4
1) Under what circumstances is inflation considered a beneficial occurrence?
2) Lillian Nguyen's Question: The Median CPI is more accurate than the CPI and Core CPI due to the fact that the Median CPI doesn't get heavily influenced by outliers; thus, the Median CPI is able to avoid potential distortions. Unlike the Core CPI and CPI, the Median CPI does not average values resulting in a more accurate prediction of inflation.
Daniel Sanchez 2nd Period
1) Say inflation skyrockets, what would have to be done in order for it to decrease to a basic level?
2) Answer to Kimberly Mendez's question: High inflation lowers the value of our money so we can get fewer goods and services for each dollar.
Justin Freker
Period 4
1) Is inflation ever good for the economy?
2) Manon Hughes question: We use CPI for a few reasons even though it is not always completely accurate. For one it is relatively simple to calculate. Also it is extremely difficult to get the exact inflation rate using any method, so even though CPI might be a little bit off, it could still be the closest estimate.
Alyssa Wilson
6th Period
1. Can we rely on the BLS's measurement of core prices to actually exclude all things affected by inflation?
2. In response to Justin Freker's Question: Yes, a little bit of inflation can be good for the economy when it is in conjunction with strong spending, full employment, and economic growth.
Jocelyn Dang
6th period
1)Even though knowing future inflation rates would let the government stabilize prices and reach full employment better, by stabilizing prices, how would businesses and firms fill the financial void that they resolve with increase in price during a high demand for a low supply or high cost and low profit?
2)Alyssa Wilson's question: While the BLS does give a rough estimate of the prices affected by inflation, we cannot rely on it to exclude all things affected by inflation because those items are still affecting the economy, accounted for or not in the BLS. While the core prices are prices unaffected by inflation, the BLS is not giving an accurate estimation of the prices year to year, understating the actual prices in a year. While not desirable, the public deserves to know the inflated prices as well.
Can we rely on the BLS's measurement of core prices to actually exclude all things affected by inflation?
1) In reply to Alyssa Wilson, I think that the BLS can be relied upon because, as it said in the video, the BLS does have a track record of saying when we're in inflation.
2) How is it that CPI excludes the change on prices for one product? Why is a Median CPI necessary?
1) Are the weight of the items gauged every year, if not how would this effect the accuracy of both the median and overall CPI
2) Jacqueline Gann: The median CPI is signiicantly mre acurate because it takes the average trend and is therefore less affected by the volatile markets. The accuracy is improtant because it is use to guage a prspective investment opportunity that is another country
Cameron Molfetto
4th Period
1) In reply to Emily Thundiyil's question: As one product is being demanded more, others are being demanded less. So it would not matter if one product is excluded. CPI median is necessary because it allows the middle of all of it to be seen, therefore giving a more exact estimate.
2) In what circumstances, if any, is inflation beneficial for the economy.
Why is the inflation rate not affected by single products?
In response to Justin Freker's question: we must maintain certain levels of inflation necessary for our economy, but Excessive inflation can be as problematic as the deflation process.
Briona Caruthers
6th Period
Shivani Doshi
Period 2
1) What are some limitations of the CPI?
2)In response to Justin Freker's Question: I think a little bit of inflation is always good for our economy because it's a big driver for consumption and a booster for spending money in companies who seem to be sitting on a lot of cash.
Troy Lilly
6th period
1)Why is it more beneficial to be able to predict inflation rather than just realizing it has already happened?
2) To answer your question, Cam, (by the way you forgot a question mark so it was more just a statement...) Inflation over time can slowly break down small debts. Inflation also has potential to raise working wages resulting in more spending ability.
Justin Hoang
6th Period
1)What causes inflation? How does it differ from relative price change?
2)Troy Lilly's question: Predicting inflation is more beneficial than just realizing it happen already because households and businesses need estimates of future prices to make well-informed decisions.
Samantha Fonseca
4th Period
1) What are the disadvantages of knowing when inflation will occur?
2) In response to Shivani Doshi's question: The CPI fails to account for changes in product quality, which can cause the value of goods to increase. The CPI can overestimate inflation when these values aren't taken into account. It also does not include new products until they are common consumer goods, so it fails to account for the price changes of these new products when estimating inflation.
Ashish Jain
4th period
1) What is the Consumer Price index and what exactly falls into the category of calculating it based on people's spending actions?
2) Nevin Thomas's question: The change in price on just one product does not affect the entire idea of the inflation rate because unless everything else depends on that specific product then it has no real effect on the rest of the economy.
Luke Emery
Period 6
1) Compared to the CPI, is the Median CPI that much more accurate?
2) Alyssa Wilson's Question: The BLS does give a good estimate of the prices affected by inflation. It usually does reflect when inflation is happening.
p.s.
Shout out to Troy for remembering to post even when I didn't remind him.
Using the bee example, why does the speaker why is it more important to pay attention to the general direction of inflation despite individual fluctuations in prices?
Answering Aiah Tisha Ebueng's question, The RMSE states that the median CPI is a better indicator compared to overall CPI because the overall CPI encompasses too wide a range of price movements. Whereas, the median CPI is the middle value, so it does not reflect either extreme (people spending little to nothing on one product versus spending a large amount on another) that is included in the overall CPI. Thus, the median CPI is indicative of the inflationary trend in a general direction, depending on the data, and this represents inflation.
Yvonne Thong 2nd
Caitlin Davis
Period 2
1. What is the statistical technique that tells you how accurate a forecast is?
2. To Ashish Jain's question: The consumer price index is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services and it covers all goods and services purchased for consumption by the reference population.
1. What limits CPI?
2.Ben Kurian: Median CPI accounts for inflation as well, so most think that it is more accurate. The normal CPI is just an average, too, which can add in all the problems at the lowest and highest points
Krista Killam
Period 6
John Harris 2nd
1- What are the downsides of Median CPI? What are the upsides to overall CPI? to explain why both are in use.
2. Justin Freker's question: certain amounts of inflation is healthy for the economy, however too much inflation can lead to problems even worse than the deflation process.
in response to kimberly mendez.
- inflation is considered a beneficial thing when people are in debt. If you are in debt, the money that you repay is worth less than the money that you borrowed. If there is enough inflation, you actually end up paying back less real money than you borrowed.
my question is: How does the Median CPI help in determining inflation on a month to month basis?
Taylar-Jayde Dodwell
6th period.
In response to Taylar's question, the CPI is based on a period of time and cannot be measured on a month to month basis, so therefore, will not be an accurate way to measure inflation on a month to month basis.
My question is Can the CPI for individual areas be used to compare living cost among areas?
Karen George
6th
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