Chain-weighted price indices are constructed such that

A) all years' levels of GDP are directly related to a base year level of GDP.
B) prices of one good can be directly compared with prices of other goods.
C) prices in different years can be directly compared with one another.
D) prices in different economies can be directly compared with one another.

C

Economics

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Growth in the standard of living is measured by the increase in

A) real GDP. B) the Rule of 70. C) employment. D) real GDP per person. E) consumption.

Economics

If a tariff is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. producer surplus from shrimp will ________

A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change

Economics