current news article and how it relates to microeconomics. short summary.
current news article and how it relates to microeconomics. short summary.
Homework Answers
Ans) In US economy Consumer price index rose more than expected in july. CPI rose 0.3% as against the expected rise of 0.2% leading to rise in prices of all the items. Gasoline prices rose 2.5% and shelter cost increased 0.3% , electricity rose 0.6% ,rents had risen by 0.3% for six months straight.
This rise in price will affect individual consumer's consumption behaviour, high rise might lead to low demand. Since the available products are becoming costlier for the individuals it will lead to shrinking of purchasing power.
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current news article and how it relates to microeconomics. short
summary.
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