Examlex
Which of the following statements is true?
Laspeyres Price Index
An economic measure that calculates the change in the price of a basket of goods and services, using the quantities purchased in the base year as weights.
Per Capita Income
The average income earned per person in a given area or country.
Revealed Preferences
The concept that consumers' choices reveal their preferences and that these choices can be used to infer the utility they derive from different options.
Francs
A currency formerly used in France and some other countries, and still used in some parts of Switzerland and the Pacific.
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