price index is: a) a measurement showing how the average price of a bundle of goods changes over time b) a measurement showing the cost of a bundle of goods at a point in time c) a sustained increase in the overall price level

price index is: a) a measurement showing how the average price of a bundle of goods changes over time b) a measurement showing the cost of a bundle of goods at a point in time c) a sustained increase in the overall price level

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Q21 MCQ

A price index is:

a) a measurement showing how the average price of a bundle of goods

changes over time

b) a measurement showing the cost of a bundle of goods at a point in time
c) a sustained increase in the overall price level
d) a decrease in the overall price level

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