The consumer price index is a measure of
A) the lowest prices paid by urban consumers for a fixed basket of consumer goods and services.
B) the commodity prices paid by urban consumers for a fixed basket of consumer goods and services.
C) the average of the prices paid by urban consumers for a fixed basket of consumer goods and services.
D) the consumer prices paid by average households for a fixed basket of goods and services.
E) the average of the prices paid by rural consumers for a fixed basket of consumer goods and services.
C) the average of the prices paid by urban consumers for a fixed basket of consumer goods and services.
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Of the following market structures, which is the most competitive?
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
The narrowest definition of money is:
A. hard money. B. M1. C. M2. D. L.
When the consumer price index rises, the typical family
a. has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars to maintain the same standard of living. c. finds that its standard of living is not affected. d. can offset the effects of rising prices by saving more.
Which of the following is most likely to encourage economic growth?
a. stable private property rights b. an extensive welfare system c. frequent military take-overs of the government d. a shrinking labor force e. a fixed capital stock