A measure comparing the prices of consumer goods and services that a household typically purchases to the prices of those goods and services purchased in a base year is:
a. the GDP deflator.
b. the consumer price index.
c. the price level.
d. inflation.
e. the base measure.
b
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Although GDP is not the same as economic well-being, high levels of GDP are positively correlated with all of the following except:
A. higher rates of literacy. B. higher rates of infant mortality. C. longer life expectancies. D. higher material standards of living.
What are the differences between the four market structures in terms of the number of sellers in the market and the types of products produced?
What will be an ideal response?
Last week, 13 Mexican pesos could purchase one U.S. dollar. This week, it takes 11 Mexican pesos to purchase one U.S. dollar. This change in the value of the dollar will ________ exports from the United States to Mexico and ________ U.S
aggregate demand. A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease
Which of the following is true of the short-run aggregate supply curve?
What will be an ideal response?