The consumer price index reflects
A. the changes in the prices of goods and services typically purchased by consumers.
B. the average level of prices for intermediate goods and services purchased by business.
C. the median price of a typical single family home.
D. prices of all goods and services computed from the ratio of nominal GDP to real GDP.
Ans: A. the changes in the prices of goods and services typically purchased by consumers.
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The market demand curve is
a. any individual's demand curve multiplied by the number of consumers in the market b. the relationship between income and quantity demanded c. the horizontal sum of the individual demand curves for all consumers in the market d. the vertical summation of all individual demand curves e. the sum of prices paid at each quantity demanded
Refer to the given information. Zippo has a:
The plus items below are “export-type” entries and the minus items are “import-type” entries in the balance of payments for the hypothetical country of Zippo.
A. current account deficit.
B. capital account deficit.
C. balance of payments deficit.
D. trade surplus on goods and services.