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Topic: Basket of goods

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Discussion and clarification of PPP

Purchasing power parity

Purchasing power parity

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	Purchasing power parity - Wikipedia, the free encyclopedia (Site not responding. Last check: 2007-10-16)
		In contrast to the "real" exchange rate that the currencies are traded for in the official market (as opposed to the fl market), the PPP exchange rate is calculated from the relative value of a currency based on the amount of a "basket" of goods the currency will buy in its nation of usage.
		In the same way, if a Big Mac or any basket of goods costs USD$4 in the US, the PPP exchange rate is always $4 for $4.
		The naïve PPP hypothesis is that free trade of goods should revert exchange rates to their PPP values.
	www.americancanyon.us /project/wikipedia/index.php/Purchasing_power_parity (1335 words)

	GDP deflator - Wikipedia, the free encyclopedia
		GDP stands for gross domestic product, the total value of all goods and services produced within that economy during a specified period.
		The GDP deflator is not based on a fixed market basket of goods and services.
		Unlike a price index, the GDP deflator is not based on a fixed basket of goods and services.
	en.wikipedia.org /wiki/GDP_deflator (400 words)

	Federal Statistical Office Germany - Prices - Basket of goods and services and weighting pattern
		For this reason, the extent to which the composition of the basket of goods and services changed in 2000 compared to 1995 is not spectacular, and the changes have a comparatively small effect on the results of the consumer price statistics.
		determining the basket of goods and services, is to specify the weight which the development of the prices of individual representatives will have in the total indices.
		That is so, among other things, because the incorporation of new goods or services is not in each case bound to the date of an index reform and because, should urgent need arise, such changes could be introduced in the calculation even in between two revision dates.
	www.destatis.de /basis/e/preis/vpinfo5.htm (1207 words)

	Advanced Lecture Notes for Hall and Taylor, Chapter 3
		The #relative# amounts of goods and services included in the basket are determined on the basis of urban consumer buying habits [based on a survey conducted approximately once every ten years].
		The #levels# of goods and services included in the basket are scaled so that the value of the basket measured in prices for some "base year" is $100.
		A difficulty with the CPI is that the expenditure weights (basket of goods) used to represent typical purchases of an urban family is not updated very often, and can become outdated.
	www.econ.iastate.edu /classes/econ302/tesfatsion/ht3.htm (1135 words)

	SparkNotes: Measuring the Economy 1: Consumer Price Index (CPI)
		It is based on the overall cost of a fixed basket of goods and services bought by a typical consumer, relative to price of the same basket in some base year.
		Since the same basket of goods and services is used across a number of time periods to determine changes in the CPI, the price for every item in the fixed basket must be found for every point in time.
		The price of the fixed basket of goods and services for each comparison year is then divided by the price of the fixed basket of goods in the base year.
	www.sparknotes.com /economics/macro/measuring1/section2.rhtml (1224 words)

	Data of Macroeconomics (Site not responding. Last check: 2007-10-16)
		Calculating the change in the CPI with a fixed basket of goods would lead us to say inflation was 10 percent.
		But I can change the basket of goods I consume and make myself just as well off as before with less than a 10 percent increase in income.
		The government is tackling this problem by updating the basket of goods it uses to calculate inflation more frequently.
	www.fiu.edu /~thompsop/money/data_of_macro/data_review_b02.html (389 words)

	[No title]
		He then explained the "basket of goods" concept, which is used to measure the rate of inflation over a period of time.
		This amount is then compared to the price of that same basket of goods at a later time, in order to ascertain the rate of inflation over that period of time for those particular goods.
		In order to measure inflation, a basket is picked and a price index is set up (meaning that the cost of a basket in one particular year is chosen).
	www.freewebs.com /robynbeckwith/vidlecture13.html (956 words)

	Measuring the Cost of Living
		Compute the Basket’s Cost: Use the data on prices to calculate the cost of the basket of goods and services at different times.
		The CPI is an accurate measure of the selected goods that make up the typical bundle, but it is not a perfect measure of the cost of living.
		If the quality of a good rises from one year to the next, the value of a dollar rises, even if the price of the good stays the same.
	www.pitt.edu /~beeson/jan24.htm (597 words)

	[No title] (Site not responding. Last check: 2007-10-16)
		Basing its findings on the contents of an average shopping basket of 10 common goods, Prudential found that buying those goods in a supermarket in Cyprus would set the consumer back £20.06 sterling, while its equivalent in South Africa — the cheapest retirement destination — would be less than half of that.
		In Spain, which is the top retirement choice for 31 per cent of Britons moving abroad, the same basket of goods costs only £12.73 sterling, while in the UK it would cost £14.95.
		Although Australia is the top choice for 19 per cent, it came in third in terms of expensiveness at £17.47 for the basket of goods.
	www.cyprus-mail.com /news/main.php?id=18973&cat_id=1 (384 words)

	New basket of goods and services being priced inrevised CPI, (EXCERPT), Monthly Labor Review Online, January 1987
		As a part of the revision, the market basket of goods and services priced for the index is being updated to reflect how consumers are spending their money.
		The uses of the CPI as a measure of inflation and the effects of economic policy, as a deflator of other statistical series, and as an income or benefits escalator require that it be current and accurate.
		The last revision of the CPI market basket of goods and services took place in 1978 and was based on 1972-73 spending patterns.
	www.bls.gov /opub/mlr/1987/01/art1exc.htm (372 words)

	When is a basket not a basket? - Native Goods Stories - Arizona State Museum (Site not responding. Last check: 2007-10-16)
		What a lay-person may consider to be a basket may well turn out to be one of several unique objects that are produced for specific cultural use or display.
		These baskets are also known as wicker plaques and have unique technical characteristics that distinguish them from other basket arts world-wide.
		A basket should be used at least three times (received and displayed for a year by the recipient - then used to "pay back" their own outstanding obligations) before the third recipient of the same plaque may consider trading or selling it outside Hopi.
	www.statemuseum.arizona.edu /store/stories.shtml (429 words)

	Basket of goods - Statistics New Zealand (Site not responding. Last check: 2007-10-16)
		This basket covers nine categories of items, called CPI groups, which represent the main areas of consumer spending.
		The CPI basket of goods is a representative selection of goods and services households typically spend money on.
		When consumer spending patterns change, for example, when new goods become popular or something goes out of fashion, the items surveyed are changed to reflect this.
	www.stats.govt.nz /user-guides/inflation-and-cpi/more-detailed-explanations/making-the-cpi/basket-of-goods.htm (277 words)

	Inflation
		The index is based on a standard market basket of goods and services purchased by a typical urban family.
		The Consumer Price Index (CPI) is the ratio of the value of a basket of goods in the current year to the value of that same basket of goods in the earlier goods.
		To compute the price index, the cost of market basket in any period is divided by the cost of market basket in the base period is divided by the cost of market basket in the base period and the result is multiplied by 100.
	www2.egr.uh.edu /~sgopalak/Inflation.html (1352 words)

	noticias - UK: CHANGES TO THE CPI AND RPI SHOPPING BASKET (Site not responding. Last check: 2007-10-16)
		Spending on some goods and services is sufficiently large to justify their inclusion in the consumer prices shopping basket in their own right, such as car purchase or electricity and gas bills.
		Changes to the basket should not be viewed as an indicator of those goods or services whose popularity has either grown or fallen significantly recently.
		The shopping basket used to calculate both the CPI and RPI is identical in most respects, although there are some differences in specific areas such as the coverage of owner-occupier housing costs.
	www.noticias.info /asp/aspcomunicados.asp?nid=53506 (1004 words)

	SparkNotes: Measuring the Economy 2: Terms
		A fixed basket is used in the calculation of the CPI.
		A flexible basket is used in the calculation of the GDP deflator, for instance.
		It shows the overall price level by comparing the cost of a basket of goods from one year to the next.
	www.sparknotes.com /economics/macro/measuring2/terms.html (1247 words)

	Chapter 16 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question (Site not responding. Last check: 2007-10-16)
		the price of the basket of goods and services in the base year divided by the price of the basket in the given year, then divided by 100.
		the price of the basket of goods and services in the base year divided by the price of the basket in the given year, then multiplied by 100.
		The GDP deflator compares the price of a fixed basket of goods and services to the price of the basket in the base year, but the consumer price index compares the price of currently produced goods and services to the price of the same goods and services in the base year.
	www.csustan.edu /Econ/dept/D.Vanderford/Chapter-16/chapter_16.htm (1969 words)

	Buying Foreign Goods Saves American Jobs (Site not responding. Last check: 2007-10-16)
		If Americans were to purchase the less-expensive basket of foreign goods, in addition to having all their needs met that induced them to purchase the goods in the first place, they would also have an additional $5,000 with which to purchase other goods and services.
		In this instance, the $5,000 saved by purchasing the less-expensive foreign goods results in the creation of additional jobs in the software, restaurant, entertainment, publishing, and other industries where the money saved would be spent.
		However, in the 15 years before that, from 1973 through 1987, when average annual imports of goods and services totaled a mere $312 billion per year (in 2003 dollars) and there was much less concern about losing jobs to cheap foreign labor markets, the average unemployment rate was significantly higher, 7.2 percent.
	www.fee.org /vnews.php?nid=5987 (1052 words)

	AFS: Forecasting Case Study #1
		The main difference between genuine and unit-value indices is the fact that the former ones are based on a basket of goods considered to be respresentative for the general price development and whose composition is left unaltered as long as possible, whereas unit-value-indices are not based on a fixed basket of goods.
		The unit- value of a special tariff category, which contains more or less homogeneous goods, is simply given by a division of the total values of the im resp.
		the proportions of the various goods involved may change from from month to month, changing supplying countries or countries of destination, chan ging qualities, especially if correlated with weight reductions, recording errors (transactions are classified into "wrong" categories).
	www.autobox.com /ozd.html (742 words)

	ICDDR,B: Publication, , Seebohm Rowntree and poverty line determination using first basket of goods (Site not responding. Last check: 2007-10-16)
		Benjamin Seebohm Rowntree, born in 1871, was the first to develop a “Basket of Goods” to define a poverty line.
		He gathered this data and, discarding the menus containing any animal protein source due to their high cost, he analysed the remaining menus for a breakdown of their protein and caloric content.
		The analysis results showed that the workhouse food basket practically complied with the requirements developed by Rowntree for all individual categories.
	www.icddrb.org /pub/publication.jsp?pubID=5137 (995 words)

	Measuring the basket of goods - Statistics New Zealand (Site not responding. Last check: 2007-10-16)
		Measuring the basket of goods - Statistics New Zealand
		The survey process reflects a typical consumer buying a typical basket of goods and services from a typical range of shops or providers.
		Both the goods in the basket and their sources are reviewed regularly to keep them up to date.
	www.stats.govt.nz /user-guides/inflation-and-cpi/more-detailed-explanations/making-the-cpi/measuring-the-basket-of-goods.htm (192 words)

	phorum - Our World Forum at Asiawind - Re: I doubt very much if you're a professional economist.
		If GDP is converted into a common currency using exchange rates, the size of a country's economy can also appear to vary from day to day and undergo abrupt shifts for reasons that have nothing to do with the actual levels of economic activity in that country.
		More specifically, consumer items include food, beverages, tobacco, clothing, footwear, rents, water supply, gas, electricity, medical goods and services, furniture and furnishings, household appliances, personal transport equipment, fuel, transport services, recreational equipment, recreational and cultural services, telephone services, education services, goods and services for personal care and household operation, repair and maintenance services.
		The large number of price specifications is to enable as many countries as possible to identify goods and services which are representative of their domestic expenditures.
	www.asiawind.com /forums/read.php?f=3&i=7573&t=7250 (720 words)

	baked goods gift basket Resources (Site not responding. Last check: 2007-10-16)
		Send a gourmet gift basket overflowing with Fresh Baked goods delivered right to their doorstep.
		Fresh Baked Goods Seriously delicious blueberry bars, apple cobbler bars, budapest coffee cakes, large chocolate chunk cookies, fresh croissants, a variety of yummy muffins, fresh fruit.
		Named by the Gayot Gault-Millau publications as 'The Best Gift Basket' in Los Angeles, each basket is beautifully decorated with a festive ribbon.
	www.gift-basket-directory.info /search/baked-goods-gift-basket.html (902 words)

	Measuring the Cost of Living
		CPI is computed assuming a fixed basket of goods.
		The CPI is based on a fixed basket of goods and does not reflect the change in the purchasing power of the dollar.
		If the quality of a good decreases from one year to the next, the value of a dollar falls, even if the price of the good stays the same.
	www.umsl.edu /~ecoedick/econ52html/notes/ch11/ch11.html (695 words)

	ECO 240 \| Tutorial 5c
		In Tutorial 5a we learned that a consumer seeks a market basket of goods which generates the maximum level of utility.
		Remember that the consumer's objective is to maximize the satisfaction received from the consumption of a market basket of goods, subject to the constraint that spending on the goods does not exceed income, i.e.,
		Graphically, we were able to determine that this constrained maximum occurs at the point where the slope of the budget line, Pf/Pc, equals the slope of the indifference curve, referred to as the marginal rate of substitution (MRS).
	www.ilstu.edu /~mswalber/ECO240/Tutorials/Tut05/Tutorial05c.html (1073 words)

	baked goods gift basket Guide
		Organic vegan baked goods, organic gift baskets, and raw live whole...
		Organic raw and live food snacks and vegan baked goods free of wheat, dairy, and sugar.
		Gift baskets and flowers with customized gourmet foods, wine and champagne, bath, new baby, chocolate, corporate.
	www.mainebasketboutique.com /bakedgoodsgiftbasket (459 words)

	Export and Import Demand
		, is a measure of the cost of a market basket of goods abroad relative to the cost of a similar basket domestically.
		is the cost of a market basket of goods in Britain and CB is the cost of a comparable basket of goods in the US.
		This means that goods and services are becoming relatively more expensive, on average, in Britain compared to the US.
	internationalecon.com /v1.0/Finance/ch50/F50-5.html (745 words)

	Study Questions
		The CPI consists of a constant basket of goods, while the PPI consists of a basket of goods which is always changing.
		The CPI is calculated based upon a basket of household goods, while the PPI is calculated based upon a basket of producer or intermediate goods.
		The total market value of goods and services produced within a country in a given year expressed in current dollar values is:
	www-personal.washtenaw.cc.mi.us /~kaltese/webdoc7.html (662 words)

	Mighty Goods: Breakfast Basket Gift Pack
		They’re known for their humane treatment of animals, feeding them all-natural food, and allowing them to mature, so there are no hormones in your food.
		Their Breakfast Basket Gift Pack includes award-winning applewood smoked bacon; two different breakfast sausages, thier original link and their maple link; two ham steaks; and 4 thinly sliced New York steaks.
		They have several other meat packages (if you will), I just especially like the idea of sending someone breakfast.
	www.mightygoods.com /items/2004/12/meatgift.php (91 words)

	Tatet - gift baskets fruit wine baskets (Site not responding. Last check: 2007-10-16)
		GiftTree Wine Baskets are well known for our exceptional quality and service.
		B Young Baskets is your Canadian source for fine gift baskets.
		A gift or present is the transfer of money or goods without requiring something in return (at least not immediately); by extension it can be anything that makes the other more happy or less sad, especially as a favor, including forgiveness...
	tatet.com /search-gift_baskets_fruit_wine_baskets.html (692 words)

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