The index used most often to measure prices paid by households is the: a) producer price index b) consumer price index c) wholesale price index d) GDP deflator
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Q24 MCQ
The index used most often to measure prices paid by households is the:
- a) producer
price index - b)
consumer price index - c) wholesale price index
d)
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- Distinguish between GDP deflator and Consumer Price IndexThe measurement of GDP calculates the value of intermediate goods which is already included in the prices of the partial goods. Select one: a. True b. FalseAt the end of the year 2020, Statistics Kenya estimated the total amount spent on consumption, government purchases, investment and net export of goods and services to arrive at the country’s GDP. What measurement approach is described above?
- Ho Chi Minh wants to measure gross domestic product. He can do so by measuring Question 22 options: income and expenditures. income but not expenditures. expenditures but not income. neither income nor expenditures.GDP includes the value of final goods and NOT intermediate goods because : A. the value of intermediate goods doesn't matter. B. the value of intermediate goods is too difficult to measure. C.The value of intermediate goods is measured by GNP. D.of double counting.Define “retail sales” index and tell why it is important as an economic indicator.
- 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 levelQ4 MCQ . In order to avoid double counting, statisticians just count the __________________. final inventories final goods and services intermediate goods and services durable goods and nondurable goodsThe consumer price index (CPI) A. measures the price of a fixed basket of goods and services. B. measures the price of a basket of goods and services that constantly changes as the composition of consumer spending changes. C. measures the amount of money that it takes to produce a fixed level of utility. D. is one of the many statistics in the National Income Accounts.
- calculate the GDP deflator for 2012 and 2013 as well as the inflation rate for 2012 and 2013 using the GDP deflator.To determine the correct level of GNP (Gross national product), it is necessary to:(A) Add up the values of goods and services during one year(B) Add up all savings(C) Count all imports(D) Add up the value of semi-finished goodsCalculate and interpret the Coefficient of Correlation between the following indicators: GDP (Current $US) and Goods exports (BoP, current US$)