A price index shows
A) the current cost of a basket of goods.
B) the relative price of necessities.
C) the price of goods in the future.
D) the cost of today's goods expressed in terms of the cost of goods in a base year.
D
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Use the following list of factors that are related to the aggregate demand curve to answer the next question.1) Real-Balances Effect2) Household Expectations3) Interest-Rate Effect4) Personal Income Tax Rates5) Profit Expectations6) National Income Abroad7) Government Spending8) Foreign Purchases Effect9) Exchange Rates10) Degree of Excess CapacityWhich of the above factors best explain the downward slope of aggregate demand curve?
A. 7, 9, and 10 B. 4, 6, and 7 C. 2, 4, and 6 D. 1, 3, and 8
What does monopolistic competition have in common with monopoly?
A) a large number of firms B) a downward-sloping demand curve C) the ability to collude with respect to price D) mutual interdependence E) barriers to entry
Economists normally assume people's preferences should be
a. respected. b. adjusted. c. overruled. d. ignored.
The marginal tax rate is calculated in the following manner:
A. Taxes Paid/Taxable Income. B. Taxable Income/Taxes Paid. C. Additional Taxes Paid/Additional Taxable Income D. Additional Taxable Income/Additional Taxes Paid.