The index used for international price comparisons is the:
A. World Bank's International Comparison Program index.
B. World Bank's World Price Index.
C. United Nations' World Consumer Price Index.
D. World Trade Federation's International Price Index.
A. World Bank's International Comparison Program index.
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Refer to the above figure. If real Gross Domestic Product (GDP) is $2 trillion, then
A) the level of total planned expenditures is less than real GDP. B) the level of total planned expenditures is greater than real GDP. C) the level of total planned expenditures equals real GDP. D) the level of total planned expenditures equals zero.
If firms offer an efficiency wage:
a. the quantity of labor supplied will exceed the quantity of labor demanded. b. the quantity of labor demanded will exceed the quantity of labor supplied. c. the quantity of labor supplied will equal the quantity of labor demanded. d. absenteeism is expected to increase.
Suppose that you are an economist working for the United States government and are asked to defend the level and growth of government spending. What information could you use to your advantage?
A . What is the difference between a pure public good and a near-public good? b. Are streets pure public goods or near-public goods?