Which of the following statements is true of price

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Which of the following statements is true of price indexes?I. They indicate what is happening to the general level of pricesII.They are used to estimate the rate of in³ation or de³ation.III.They are used to convert nominal values to real values, socomparisons can be made across time.Select one:a. I onlyb. I and II onlyc. I and III onlyd. I, II, and III
24/7/2019Self-Quiz Unit 5 - Chapter 204/5CorrectMark 1.00 out of1.00CorrectMark 1.00 out of1.00CorrectMark 1.00 out of1.00If the cost of a market basket is $200 in 2006 and $230 in 2007, the priceindex for 2007 using 2006 as the base year is:
Suppose in 2007, nominal GDP in Clarendon was $12,840 billion andreal GDP was $10,560 billion. Calculate the value of the implicit pricede³ator. Follow the convention of multiplying price indexes by 100.

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