Headline inflation:
A. is inflation measured using the retail price index.
B. measures price changes with food and energy costs taken out of the basket.
C. is inflation measured using the producer price index.
D. measures the changes in prices for the entire market basket of the average urban consumer.
Answer: D
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When resource markets are free to adjust, temporary differentials will cause
a. b, c, and e to occur b. the allocation of fewer resources to lower-paid uses c. the equalization of payments for the same resource in different uses d. no change in the allocation of resources e. the allocation of more resources to higher-paid uses
If good x is available free of charge, then
a. good x must be provided by nature. b. good x must be provided by the government. c. the private market cannot ensure an efficient allocation of resources in the market for good x. d. government policy is incapable of increasing total surplus in the market for good x.
Federal Reserve open market operations directly influence..
What will be an ideal response?
_________ inflation can be explained by an ________ shift in the aggregate _________ curve.
A. Demand-pull, leftward, demand B. Cost-push, rightward, supply C. Demand-pull, leftward, supply D. Cost-push, rightward, supply