Relative price is
A. The price of one good in comparison with the price of other goods.
B. A decrease in purchasing power because of rising prices.
C. The current price paid for a good or service.
D. The amount of income a particular good requires.
Answer: A
Economics
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When the Fed purchases artwork to decorate the conference room at the Federal Reserve Bank of Kansas City
A) reserves rise, but the monetary base falls. B) reserves fall. C) currency in circulation falls. D) the monetary base rises.
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The choice of a voter to remain uninformed because the marginal cost of obtaining information is greater than the marginal benefit from obtaining knowledge is called:
a. irrational ignorance. b. rational ignorance. c. collective interest. d. choice.
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