Author Question: The consumer price index is the A) average of the prices of new final goods and services produced ... (Read 150 times)

TVarnum · **on:** Jun 29, 2018

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.