A measure of the average price of a given class of goods or services relative to the price of the same goods and services in a base year is called a:

Some economists argue that increases in government spending are not a likely source of continued inflation because

A) increases in government spending cause reductions in other spending components. B) government spending is not created by the Fed. C) increases in government spending can be financed by money creation. D) a and b E) a and c

Refer to the graph below. If the output level is Q1, then the sum of the consumer and producer surplus is:

A. bce
B. ac0
C. 0abe
D. 0eQ1