The CPI is all of the following EXCEPT the:
A. cost of living relative to the base year.
B. consumer price index.
C. average level of prices relative to prices in the base year.
D. rate of inflation between the current period and the base year.
Answer: D
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What kind of changes would be expected in the demand of a country that has a growing population?
a) a rise in the demand for recreation b) a shift in the demand for high-quality food c) a rise in the demand for shelter d) a lowering in the demand for automobiles
If two goods are complementary, a(n)
a. decrease in the price of one good will cause a decrease in the demand for the other b. decrease in the price of one good will cause an increase in the demand for the other c. increase in the price of one good will cause an increase in the supply of the other d. increase in the price of one good will cause a decrease in the supply of the other e. increase in the price of one good will cause an increase in the demand for the other