eco dev - 4 midterms

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The consumer price index (CPI)

The consumer price index (CPI)

is a statistic used to measure the total goods and services purchased and consumed by a household compared to a base year

Economic crashes

usually begin with the vicious cycle of higher prices and the expectations of higher prices that greatly affect the buying behavior of the people

vicious cycle

is any situation in which an action tends to bring about a further reaction that offsets any gain brought about by the initial action and exacerbates the initial problem

hyperinflation

When this happens, and the monthly inflation rate increases over 50% or around 13,000% per year,

stagflation

The condition when the production of goods and services slows down or is put to a halt or simply stagnates while the prices are rising is

Depression

The USA experienced the Great ___ in the 1930s, which started in 1929. There was a sustained decrease in the GDP

cost of living allowance (COLA)

is an adjustment applied to the income received by the employees to sustain the standard of living due to the inevitable rising prices or inflation

used to counter effect of inflation

The Philippine Statistics Authority (PSA)

conducts a Commodity and Outlet Survey (COS)' (the last survey of its kind was in 2007-2008) to understand the goods and service that each household in the country purchases or consumes, and the type of channels in the country wherein these are available

velocity of money

average number of times a currency is spent on purchasing goods and services