A measure comparing the prices of consumer goods and services that a household purchases to the prices of those goods and services purchased in a base year is the
a. Consumer Price Index
b. Consumer Deflator Index
c. GDP Price Deflator
d. Producer Price Index
e. Consumer Price Deflator
A
Economics
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If the money wage rate rises, then the
A) SAS curve shifts rightward. B) SAS curve shifts leftward. C) LAS curve shifts rightward. D) LAS curve shifts leftward.
Economics
When consumers' purchasing power decreases, the economy will experience a period of
A. contraction. B. expansion. C. containment. D. emergence.
Economics
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Economics
For a cartel to work, demand for the cartel's product must be
A. inelastic. B. unit elastic. C. perfectly elastic. D. elastic.
Economics