The Big Mac index compares:
A. the cost of a Big Mac all over the world.
B. the cost of a typical basket for consumers all over the world.
C. typical food costs, as food is the largest component of all consumption baskets.
D. typical food and energy costs across different locations.
A. the cost of a Big Mac all over the world.
You might also like to view...
Discrimination that occurs when people's preferences cause them to discriminate against a certain group is referred to as:
A) group discrimination. B) special interest group discrimination. C) cultural discrimination. D) taste-based discrimination.
The figure above illustrates the problem of overcrowding and external costs experienced during the summer months in the state park. An efficient allocation of resources occurs at
A) point F. B) point G. C) point H. D) point I.
Which of the following would not cause a movement along the AD curve?
a. An increase in the price level. b. A decrease in the price level. c. A change in the interest rate caused by a change in the price level. d. A change in autonomous consumption e. Both a change in the interest rate caused by a change in the price level, and a change in autonomous consumption.
Fiat money is money
a. that has little intrinsic value and is not backed by a commodity. b. that is not included as part of the M1 money supply. c. that is backed by gold or silver held on reserve by the government. d. such as coins that are made from metal.