The consumer price index is the A) average of the prices of ...

[TVarnum]

The consumer price index is the
 
  A) average of the prices of new final goods and services produced in the economy over a period of time.
  B) cost of a market basket of goods and services typically consumed in the base year.
  C) cost of a market basket of goods and services typically consumed in the current period.
  D) average of the prices of the goods and services purchased by a typical urban family of four.

Question 2

Refer to Table 19-13. Nominal GDP for Vicuna for 2013 equals
 
  A) 4,920. B) 5,100. C) 5,300. D) 5,850.

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Answer to Question 1

D

Answer to Question 2

A

[TVarnum]

Excellent

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TYSM