The Consumer Price Index (CPI) measures the changes of the
A) prices paid by consumers for a fixed market basket of consumer goods and services.
B) quantities of a fixed market basket of goods produced by businesses.
C) lowest prices paid by consumers for a fixed market basket of consumer goods and services.
D) prices paid by all businesses for a fixed market basket of production resources.
E) prices paid by consumers and businesses for a fixed market basket of goods and services.
A
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The policies of the New Deal in the 1930's, in an effort to alleviate unemployment, paralleled those of
a. Keynesian analysis. b. supply-side economics. c. Say’s Law. d. the classical theory.
When exchange rates are set by government decree,
a. appreciation is called devaluation. b. depreciation is called devaluation. c. depreciation is called deflation. d. appreciation is called inflation.
The theory that our population would grow too quickly relative to our food supply is associated with
A. Adam Smith. B. Karl Marx. C. Thomas Malthus. D. John Maynard Keynes.
The idea that central banks should be independent of political pressure is an idea that:
A. is relatively new. B. every central bank was founded upon. C. has been around since there were central banks. D. became quite popular in the early 1900s.