According to the Latin phrase ceteris paribus:

a) Nothing else changes.
b) Things do not remain equal.
c) Resources are limited.
d) There is no government intervention.

Answer: a) Nothing else changes

Economics

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Which of the following is the prime objective of an industrial policy for any country?

a. To secure a leading global role for selected domestic industries b. To promote and encourage the import of goods and services c. To secure the interests of migrant workers d. To encourage specialization of labor e. To ensure a high level of competition for domestic firms

Economics

The consumer price index (CPI) is designed to measure

a. the impact of price changes on the value of real GDP. b. the nominal value of consumer spending on food, clothing, and energy. c. the total spending of households as a percentage of GDP. d. the impact of price changes on the cost of the typical bundle of goods purchased by households.

Economics