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True regarding the consumer price index

Assignment Help Macroeconomics
Reference no: EM133311675

Questions

1. Which of the following statements regarding economic indicators is false?

A. Most indicators provide a snapshot view of the economy.

B. Lagging indicators provides us with a look at what just happened in our economy.

C. Stock market performance is a leading indicator.

D. Macroeconomic indicators are 100% accurate all of the time.

2. GDP per capita is often used to measure the __________.

A. GDP adjusted for inflation

B. standard of living

C. gross national product

D. overall GDP growth rate for an economy

3. In 2014, the average cost of a house in France was 125,000 euros. In 2022, the average cost is 160,000 euros.

Given the price of the average house for reference, the inflation rate of the euro can be said to have increased by a factor of __________ in 8 years.

A. 0.28

B. 1.28

C. 0.78

D. 1.35

4. Which of the following describes real GDP?

A. Is the best measure of per capita standard of living

B. Shows changes in the prices of goods based on inflation

C. Is adjusted for inflation to show growth in output

D. Considers the nominal prices of goods/services

5. Which of the following is true regarding the consumer price index (CPI)?

A. Includes measures of intermediate goods

B. Shows the inflation rate for all goods in an economy

C. Changes monthly as consumer spending changes

D. Shows the change in prices for a market's basket of goods

6. A discouraged worker is __________.

A. reflected in the measured unemployment rate

B. one who is underemployed

C. one who has given up looking for work

D. considered part of the labor force

7. Unemployment as a result of people's skills not matching those needed for jobs in a changing economy is known as __________ unemployment.

A. frictional

B. cyclical

C. structural

D. full

8. Which of the following is often associated with an increase in employment rate of women in living-wage occupations?

A. Lower access to education

B. Increased population growth

C. Fewer resources for children

D. Higher standard of living for families

9. Retail sales are measured by __________.

A. the Census Bureau

B. collecting self-reported data from all retail outlets with over 10 employees

C. collecting self-reported data from chains of over 40 stores

D. the Bureau of Labor Statistics

10. Which of the following describes how consumer confidence is measured?

A. It is measured over the time period between the next 6 and 12 months

B. It is measured over the time period between the past 6 months and the present

C. It is measured over the time period between the present and next 12 months

D. It is measured over the time period between the present and next 6 months.

Reference no: EM133311675

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