One way the consumer price index (CPI) differs from the GDP chain price index is that the CPI:
a. uses current year quantities of goods and services.
b. includes separate market baskets of goods and services for both base and current years.
c. includes only goods and services bought by typical urban consumers.
d. is bias free.
c
Economics
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In the economic way of thinking, countries are poor because they lack
A) money. B) access to the New York Stock Exchange. C) foreign aid. D) productive knowledge and ideas. E) effective minimum wage legislation.
Economics
The currently used method for calculating the CPI
A) accounts for people increasing consumption of a good that falls in relative price. B) probably overstates inflation by about 1 percentage point. C) has no effect on government expenditures. D) None of the above answers are correct.
Economics