The CPI is based on an:
A. average of the goods and services purchased by "urban consumers."
B. average of the goods and services purchased by "rural consumers."
C. average of the two baskets of goods and services purchased both by "urban" and by "rural" consumers.
D. aggregated average meant to reflect the statistical average consumption.
A. average of the goods and services purchased by "urban consumers."
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Since business firms will undertake a project whose rate of return exceeds the present level of interest rates, when interest rates
A) rise planned investment rises, ceteris paribus. B) fall planned investment falls, ceteris paribus. C) rise planned investment does not change. D) rise planned investment falls, ceteris paribus.
Consumption is a function of _____.
Fill in the blank(s) with the appropriate word(s).
The Latin phrase ceteris paribus means
A. The production possibilities curve never shifts. B. Other things remain equal. C. The invisible hand. D. Laissez faire.
Using an aggregate demand graph, illustrate the impact of an increase in the interest rate
What will be an ideal response?