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Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 6SCQ: The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the...
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Answer your friend who claims that;

Do you agree/disagree with these statements,explain your reason.

1) housing boom in Japan is unbelievable due to its declining population (Table 3).

2) The condominium prices are determined by the building costs by the construction companies rather than financial condition of buyers.

 The condominium prices 

  3)are similar to those in other property types (Table 1) and

 4)do not change largely regionally across Japan (Table 2).

 5) population changes do have similar effects on house prices in large cities and rural areas in Japan.

2015 2018 Table 2: 2012 2016 Table 3: Changes in of Table 1: 2012 1997 2005 2013 Japan: Residential Condo. Prices Rate Property Price (2010=100) Net Index Migration (2010=100) 101 Osaka with Residential 100 100 130 174 Fukuoka 0.6 0.3 Land suburbs Residential 100 104 110 Hokkaido 115 154 Tokyo 0.8 0.7 0.6 Property Area Condominiums 104 120 140 124 Japan Average 100 Osaka 0.6 0.2 -0.2 Area Nagoya 0.5 0.4 Area Rest of -0.3 -0.5 Jaрan
Transcribed Image Text:2015 2018 Table 2: 2012 2016 Table 3: Changes in of Table 1: 2012 1997 2005 2013 Japan: Residential Condo. Prices Rate Property Price (2010=100) Net Index Migration (2010=100) 101 Osaka with Residential 100 100 130 174 Fukuoka 0.6 0.3 Land suburbs Residential 100 104 110 Hokkaido 115 154 Tokyo 0.8 0.7 0.6 Property Area Condominiums 104 120 140 124 Japan Average 100 Osaka 0.6 0.2 -0.2 Area Nagoya 0.5 0.4 Area Rest of -0.3 -0.5 Jaрan
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