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(2010): An advantage property of the geometric mean is that it can get better changes in people spending patterns relative to changes in the price of goods and services.RPI is constructed using the arithmetic mean (AM), two different methods, for instance, the AM calculate if one price increased by 25% from the base period which= 100 and another decreased by 20% their new index values would be 125 and 80 the AM of these is: Last 10 years UK financial crisis began and causes too many damages for the UK economy and growth and still facing it, and now a historic event for the UK which is Brexit.
According to the economist (John Maynard Keynes), a bit of inflation can grow the economy, the accurate measurement will help distinguish between money values and real values in the economy (Parkin, Matthews and Powell, 2005).
Inflation has many types that affect the price level in many different ways, it has been recognisable the prices in the past used to cost and prices of nowadays being increasing on everything such as rent and other living standers (Fernando, 2015).
Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, environmental sustainability, convivial inclusion, health, safety, liter...
[tags: Economics, Unemployment, Economic growth] - The augmentation of economic growth can be attributed to many factors including the alteration of public and government expenditures, possible labor opportunities, the reclamation and enhancement of infrastructure, anticipated amelioration of technology, and more.
These modifications in the form of government policy have direct influence of economic output, or gross domestic product (GDP), which is the most widely accepted measure for a country’s standard of living.
Therefore, the accession of an economic state in any country is the derivative of its standard of living....You can view samples of our professional work here.Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays.[tags: Economics, Investment, Economic growth] - Growth in an economy can be attributed to many things.Some economists believe these variables may be exogenous and others say they are endogenous.Main reasons which cause inflation which are: An inflation that results from an initial increase in aggregate demand (Parkin, Matthews and Powell, 2005), It occurs when aggregate demand is increasing at an unsustainable rate which will cause an increased pressure on scarce resources and a positive output gap (tutor2u, 2014).Firstly shifting in AD1 to AD2 due to increase in C I G X-M, which makes to get demand-pull inflation when economic growth is above the long- run trend rate of growth.Two major types that measure inflation which are consumer price index (CPI) and Retail Price Index (RPI) both measures the average of the prices paid by consumers for a fixed basket of consumer goods and services.Main differences between CPI and RPI (source: Office of national statistics.Firstly it happened in the subprime mortgage market in the US and then developed into full-blown international banking crisis with collapsing with the investment banks (Williams and Mark, 2010), British banks starts to borrow huge money to fund mortgages for customers, needs to pay off debt by reselling it and the mortgage is international market, and the demand of mortgage has fallen, which causes liquidity crisis (Kingsley, 2012) as shown in the graph when the financial crisis happen in august 2007 the prices of the mortgage has fallen -18.7% tell April 2009 (Kingsley, 2012).Since the great recession of 2008/2009 UK had the slowest recovery for the economy.