AG_EC 10421st Edition Lecture 6 Outline of Last Lecture I. The Importance of PricesII. The Market Basketa. Consumer Price IndexIII. Challenges When Measuring PriceIV. Using the Price Indicesa. Inflation rateb. Deflating nominal variablec. Adjusting for InflationV. Purchasing Power IndexesOutline of Current Lecture I. Chapter 1-3 Exam ReviewII. Chapter 7 and 8 Exam ReviewCurrent LectureI. Chapters 1 – 3 Exam ReviewExam one will consist of fifty multiple choice question. For chapters one through three therewill be a total of 24 questions on the exam. Each covering the basics of each learning objective from each chapter. Make sure you understand and are able to apply these learningobjectives.II. Chapter 7 and 8 Exam ReviewFor chapters seven and eight there will be 26 questions. Of these 26, five or six of them will require basic math skills. Everything on the test was covered in lectures. There will bethirteen questions from chapter seven and eight questions from chapter eight. Again, have agood grasp on the learning objectives and be able to explain
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