To compare the price of a loaf of bread produced in 1993 with the price of a loaf produced in this year, you should compare the value of the bread in
A) CPI quantity.
B) real quantity.
C) nominal prices.
D) nominal quantity.
E) real prices.
E
You might also like to view...
What is the relationship between the marginal cost, minimum supply-price, and supply?
What will be an ideal response?
A government-inhibited good is a good which
A) is not subject to the principle of mutual exclusivity. B) the political process has deemed socially undesirable. C) can be consumed by one individual without affecting the consumption of another individual. D) the political process has deemed socially desirable.
Burkes Inc should stop production in the short run if the market price of its product is less than its average total cost of production
Indicate whether the statement is true or false
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.