Legitimate Power

question 74

Multiple Choice

Legitimate power

• A) arises from fear related to the use of force.
• B) arises from a person's knowledge or skills.
• C) comes from the emotions a person inspires.
• D) comes from the position a person holds.

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Definitions:

Price Level

An overall average price for the complete array of goods and services in the economy.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Market Basket

A selected set of goods and services used to track changes in prices and measure inflation over time; represents the typical consumption of a household.

Nominal GDP

The aggregate price of every ultimate good and service generated within a nation over a certain period, valued in the current monetary rates without modifications for inflationary changes.