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.
D
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If firms monopolistically competitive firms are making an economic profit, as new firms enter the market, each of the existing firms' demand curve shifts ________, the marginal curve shifts ________, and the profit-maximizing quantity ________
A) leftward; leftward; decreases B) rightward; leftward; increases C) leftward; rightward; decreases D) leftward; leftward; increases
A credit market instrument that requires the borrower to make the same payment every period until the maturity date is known as a
A) simple loan. B) fixed-payment loan. C) coupon bond. D) discount bond.