Author Question: The consumer price index measures: a. the cost of all goods and services produced in the U.S. ... (Read 74 times)

Lobcity · **on:** Jun 30, 2018

The consumer price index measures:
a. the cost of all goods and services produced in the U.S. economy.
b. the average change over time in the selling prices received by domestic producers for their output.
c. the cost of a fixed market basket of consumer goods and services produced in the U.S. economy.
d. the ratio of an economy's nominal GDP to its real GDP.
e. the income distribution of an economy.

Question 2

The government defines poverty as an income level less than four times the cost of a minimal diet.
a. True
b. False
Indicate whether the statement is true or false