Recessions in the U.S. economy show up in economic data as periods of
A) declining prices.
B) rising interest rates.
C) slower growth or actual decline in nominal GDP.
D) slower growth or actual decline in real GDP.
D
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Which of the following is true about the consumer price index (CPI) and the GDP price index? a. Both measures weigh prices by quantities consumed in some base year
b. Both yield identical numbers for price level changes for any two years. c. Both CPI and GDP price index underestimate changes in the price level in an economy. d. The CPI measures changes in relative prices of goods, while the GDP price index measures changes in the absolute price level of a fixed basket of goods and services. e. CPI includes products that are widely used, while GDP price index includes all goods and services.
When there is a change in demand,
a. there is a rightward movement along the demand curve b. there is a leftward movement along the demand curve c. there is a shift of the supply curve d. changes in price lead to different changes in quantity demanded e. there is a shift of the demand curve