When computing a price index, the base year is
A) the earliest year for which data are available.
B) the year that is chosen as the point of reference for comparison of prices with other years.
C) the most recent year for which data are available.
D) the most recent year in which the inflation rate was close to zero.
B
Economics
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How does the idea of a leaky bucket relate to the study of income distribution?
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The market system's answer to the fundamental question "What will be produced?" is essentially:
A. "Goods and services that are profitable." B. "Low-cost goods and services." C. "Goods and services that can be produced using large amounts of capital." D. "Goods and services that possess lasting value."
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