Assume the market basket for the consumer price index has two productsbread and milkwith the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals

Refer to Figure 13-2. Ceteris paribus, a decrease in the expected future price level would be represented by a movement from

A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.

As a rule, the more of a commodity a consumer acquires, the smaller will be her total utility from that good

a. True b. False Indicate whether the statement is true or false