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14 relations: ACCRA Cost of Living Index, Bureau of Labor Statistics, Compensating variation, Consumer price index, Cost of living, Goods, Indirect utility function, Price index, Public good, Service (economics), Substitute good, United States Consumer Price Index, United States Department of Labor, Utility.
ACCRA Cost of Living Index
The Cost of Living Index (COLI), formerly the ACCRA Cost of Living Index is a measure of living cost differences among urban areas in the United States compiled by the Council for Community and Economic Research.
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Bureau of Labor Statistics
The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor.
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Compensating variation
In economics, compensating variation (CV) is a measure of utility change introduced by John Hicks (1939).
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Consumer price index
A consumer price index (CPI) measures changes in the price level of of and purchased by households.
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Cost of living
Cost of living is the cost of maintaining a certain standard of living.
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Goods
In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.
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Indirect utility function
In economics, a consumer's indirect utility function v(p, w) gives the consumer's maximal attainable utility when faced with a vector p of goods prices and an amount of income w. It reflects both the consumer's preferences and market conditions.
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Price index
A price index (plural: “price indices” or “price indexes”) is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.
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Public good
In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
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Service (economics)
In economics, a service is a transaction in which no physical goods are transferred from the seller to the buyer.
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Substitute good
A substitute good is one good that can be used instead of another.
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United States Consumer Price Index
The U.S. Consumer Price Index (CPI) is a set of consumer price indices calculated by the U.S. Bureau of Labor Statistics (BLS).
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United States Department of Labor
The United States Department of Labor (DOL) is a cabinet-level department of the U.S. federal government responsible for occupational safety, wage and hour standards, unemployment insurance benefits, reemployment services, and some economic statistics; many U.S. states also have such departments.
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Utility
Within economics the concept of utility is used to model worth or value, but its usage has evolved significantly over time.
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Cost of Living Index, Cost of living index, Living standard price index.
