The consumer price index is the
A) average of the prices of new final goods and services produced in the economy over a period of time.
B) cost of a market basket of goods and services typically consumed in the base year.
C) cost of a market basket of goods and services typically consumed in the current period.
D) average of the prices of the goods and services purchased by a typical urban family of four.
D
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What was troubling about the 2001 recession?
A. That the unemployment rate peaked as high as it did. B. That it lasted longer than any other modern U.S. recession. C. That its causes have never been sufficiently determined. D. The unemployment rate remained high, even after the recession ended.
Suppose a country has a national debt of $5,000 billion, a GDP of $20,000 billion, and a budget surplus of $130 billion. How much will its new national debt be?
A) $5,130 billion B) $4, 870 billion C) $15,130 billion D) $19, 870 billion