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ECODEV_Lecture3
ECODEV_Lecture3
Example:
Year NGDP (in CPI (b=2005) RGDP (b=2005) RGDPGR
(Given year) billion pesos) (b=2005)
New CPI with New base year = [old CPI / new base yr CPI] x 100
CPI2005 (b=2006) = [100% / 110%] x 100 = 90.91%
CPI2006 (b=2006) = [110% / 110%] x 100 = 100%
CPI2007 (b=2006) = [115% / 110%] x 100 = 104.55%
CPI2008 (b=2006) = [125% / 110%] x 100 = 113.64%
CPI2009 (b=2006) = [127.5% / 110%] x 100 = 115.91%
Per Capita NGDP (PCNGNP) and Per Capita RGDP (PCRGDP),
Per capita is a Latin term that translates to "by head." Per capita means the average per
person and is often used in place of "per person" in statistical observances. The phrase can be
used for almost any kind of population description but is common when discussing economic
data (
https://www.investopedia.com. December 15, 2022).