The Consumer Price Index (CPI) measures
A) the prices of a few consumer goods and services.
B) the prices of those consumer goods and services that increased in price.
C) the average of the prices paid by urban consumers for a fixed market basket of goods and services.
D) consumer confidence in the economy.
E) the average of the costs paid by businesses to produce a fixed market basket of consumer goods and services.
C
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According to the table above, the value of M1 is ________ and the value of M2 is ________
A) $813 billion; $2490 billion B) $805 billion; $2490 billion C) $813 billion; $3303 billion D) $1,488 billion; $3978 billion
Between 1995 and 1998, Federal tax revenues from ________ increased sharply
A) the personal income tax B) the corporate profits tax C) social insurance taxes D) all of the above
Which of the following statements best describes real per capita GDP in the US between 1929 and 1959?
a. It was a period of consistent increase. b. It was lower at the end of the period than the beginning because of the Great Depression. c. Although it was erratic in the early part of this period during the Great Depression, it increased consistently after World War II. d. It grew the most during World War II.
Suppose the federal funds rate rises by 0.5 percent. If the Taylor rule is correct, this might be because output is:
A. 0.5 percentage points below potential output. B. 0.5 percentage points above potential output. C. 1 percentage point below potential output. D. 1 percentage point above potential output.