2. PRICE INDEXES AND THE
AGGREGATE PRICE LEVEL
• The aggregate price level is a measure of the overall level of prices in the economy.
• To measure the aggregate price level, economists calculate the cost of purchasing a
market basket.
• A price index is the ratio of the current cost of that market basket to the cost in a base
year, multiplied by 100.
3.
4. CALCULATING GDP AND REAL GDP IN A
SIMPLE ECONOMY
Pre-frost Post-frost
Price of orange $0.20 $0.40
Price of grapefruit 0.60 1.00
Price of lemon 0.25 0.45
Cost of market basket (200 × $0.20) + (200 × $0.40) +
(200 oranges, 50 grapefruit, (50 × $0.60) + (50 × $1.00) +
100 lemons) (100 × $0.25) = $95.00 (100 × $0.45) = $175.00
5. INFLATION RATE,CPI, AND
OTHER INDEXES
• The inflation rate is the yearly percentage change in a price index, typically
based upon Consumer Price Index, or CPI, the most common measure
of the aggregate price level.
• The CPI measures the cost of the market basket of a typical urban
American family.
7. OTHER PRICE MEASURES
• A similar index to CPI for goods purchased by firms is the producer price index.
• Economists also use the GDP deflator, which measures the price level by calculating
the ratio of nominal to real GDP.
• The GDP deflator for a given year is 100 times the ratio of nominal GDP to real GDP
in that year.
9. INDEXING TO THE CPI
• The CPI has a direct and immediate impact on millions of Americans.
• Many payments are tied, or “indexed,” to the CPI.
• Today, 48 million people receive checks from Social Security. In addition, all
Social Security payments are adjusted each year to offset any increase in
consumer prices over the previous year.
• The CPI is used to calculate the official estimate of the inflation rate used
to adjust these payments yearly.
10. SUMMARY
• To measure the aggregate price level, economists calculate the cost of purchasing a
market basket.
• A price index is the ratio of the current cost of that market basket to the cost in a
selected base year, multiplied by 100.
• The inflation rate is the yearly percent change in a price index, typically based on the
consumer price index the most common measure of the aggregate price level.
• A similar index for goods and services purchased by firms is the producer price index.
Finally, economists also use the GDP deflator, which measures the price level by
calculating the ratio of nominal to real GDP times 100.
12. • Hitunglah :
a. Indeks harga eceran rata-rata beras pada tahun 2008 dengan waktu dasar tahun 2007.
b. Indeks harga rata-rata gula pasir pada tahun 2008 dengan waktu dasar tahun 2007.
JAWABAN
• Untuk beras
P(08,07)= P08 : P07 x 100
= 531,67 : 472,92 x100
= 112,42
Maka indeks harga eceran rata-rata beras pada tahun 2008 dengan tahun 2007 sebagai tahun dasar adalah
112,42%. Artinya, harga eceran rata-rata per kg beras di kota “X” pada tahun 2008 mengalami kenaikan
sebesar 12,42% dibandingkan tahun 2007.
Untuk gula
= P08 : P07 x 100
= 670,83 : 654,17 x 100
= 102,54
Maka indeks harga eceran rata-rata gula pasir pada tahun 2008 dengan tahun 2007 sebagai tahun dasar
adalah 102,54%. Artinya, harga eceran rata-rata per kg gula pasir di kota “X” pada tahun 2008 mengalami
kenaikan sebesar 2,54% dibandingkan tahun 2007.
13.
14. • Berdasarkan data di atas, hitunglah indeks harga agregat (gabungan) tidak
tertimbang kelima barang tersebut pada tahun 2008 dengan waktu dasar tahun
2007 serta berikan interpretasi atas hasil yang diperoleh !
• Jawaban:
Diketahui :
∑Po : 3130
∑Pn : 3015 maka
P(n,o) : ∑Pn/∑Po x 100
= ∑P08/∑P07 x 100
= 3015 / 3130 x 100
= 96,32
15. Jadi indeks harga agregatif (gabungan) tidak tertimbang kelima
barang tersebut pada tahun 2008 dengan waktu dasar 2007 adalah
96,32. P(08,07), memiliki arti bahwa harga gabungan kelompok
barang tersebut mengalami penurunan sebesar (100 – 96,32) =
3,68% pada tahun 2008 dibandingkan dengan tahun 2007.
