The CPI is a measure of the
a. average change in the output of the goods and services purchased by a typical urban consumer.
b. average prices of all goods and services produced.
c. percentage change in the price level.
d. average prices paid by consumers for a fixed basket of goods and services.
e. average prices of all goods.
d
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Prohibiting price increases in situations of true scarcity
a. prevents the market mechanism from reallocating resources more efficiently. b. discourages production. c. may lead to extreme shortages of vitally needed products. d. All of the above are correct.
The rate at which one currency is traded for another is called a(n)
A. prime rate. B. trade rate. C. exchange rate. D. money rate.
Which of the following bonds (of equal maturity) would have the lowest risk premium?
A) U.S. government bonds B) German government bonds C) the bonds of a financially stable corporation, like IBM D) Bonds rated Aaa by Moody's E) junk bonds
How much is the tax?
A. $1.00
B. $1.50
C. $2.00
D. $2.50