The inflation index that is most favored by economists is the
a. Consumer Price Index.
b. GDP Implicit Price Defoliator.
c. Producer Price Index.
d. Commodity Price Index.
b. GDP Implicit Price Defoliator.
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Which of the following is NOT an expected benefit of reducing nontariff barriers to trade?
A) Fewer firms to compete with B) Lower prices for many goods C) Increase in the volume of exports and imports D) Increase in production levels E) Improved overall economic welfare
When the Fed lowers the legal reserve requirement, the money supply contracts
Indicate whether the statement is true or false
Using a credit card creates a financial:
A. liability for the person using it and a financial asset for the issuer. B. asset for the person using it and a financial liability for the issuer. C. asset for both the person using it and issuer. D. liability for both the person using it and issuer.
Investments in both physical and human capital enhance economic growth because they:
A. increases consumption during the current period. B. makes it possible for individuals to produce more goods and services per hour worked. C. encourages firms to expand output by employing more low-productivity workers. D. encourages workers to unionize and, thereby, fight for higher wages.