The average price level is equivalent to
A. the price of exports.
B. the price of imports.
C. the price of a market basket of goods.
D. the price of a single good.
Answer: C
Economics
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A nation that devotes more of its resources to the production of capital goods is likely to:
A. Cause its production possibilities curve to shift outward B. Cause its production possibilities curve to shift inward C. Increase the slope of its production possibilities curve D. Decrease the slope of its production possibilities curve
Economics
If the U.S. dollar was worth 0.8 euros, and the dollar appreciated, it might now be worth:
A. 0.9 euros. B. 0.7 euros. C. 0.8 euros. D. None of these statements is possible.
Economics