Which of the following is false?
a. The most well known price index is the consumer price index, which provides a measure of the trend in the prices of goods and services purchased for consumption purposes.
b. The GDP deflator measures the average level of prices of all final goods and services produced in the economy.
c. The CPI is the price index that is most relevant to households trying to evaluate their changing financial position over time.
d. A price index is equal to the cost of the chosen market basket in the base year, divided by the cost of the same market basket in the current year, times 100.
d
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Shuttle routes for colonial trade
a. lowered labor costs. b. reduced delays and costly extensions of port times. c. were more common than triangular trade patterns. d. allowed captains to negotiate with a small number of familiar trading partners. e. All of the above.
A cut in the payroll tax will tend to cause, other things the same, ________
A) a change in aggregate demand, with no effect on supply B) a change in both aggregate demand and supply C) a change in aggregate supply, with no effect on demand D) no change in either aggregate demand or supply