Multiple Choice
Changes in the average price level are called ________,while changes in the price of a specific good in comparison with other goods and services are called _______.
A) quality adjustments;substitution bias
B) changes in a relative price;inflation
C) inflation;changes in a relative price
D) price level adjustments;quality adjustments
E) real price changes;nominal price changes
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Suppose the interest rate on new issues
Q4: The consumer price index (CPI)in 1931 was
Q5: Deflation is a situation in which the<br>A)
Q6: If all prices,including the price of clothing,increased
Q7: The tendency for nominal interest rates to
Q9: Unexpectedly low inflation _ borrowers and _
Q10: The real wage is the wage<br>A) measured
Q11: The Fisher effect is the tendency for
Q12: This table shows the values of the
Q13: This table shows the values of the