Multiple Choice
A price index is
A) the price of a market basket in a given year divided by the price of an identical market basket in a reference year.
B) a comparison of real GDP in one period relative to another.
C) the cost of a market basket of goods and services in a base period divided by the cost of the same market basket in another period.
D) a ratio of real GDP to nominal GDP.
Correct Answer:
Verified
Correct Answer:
Verified
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