What Would Explain the Fact That Food Costs Less Now

question 116

Multiple Choice

What would explain the fact that food costs less now than it did in the early 1980s?

• A) Real prices decreased.
• B) GDP per capita increased.
• C) The PPI decreased.
• D) The CPI decreased.

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Definitions:

Pollution Reduction

Pollution reduction refers to strategies and activities aimed at decreasing the amount of pollutants released into the environment.

Government Caps

Limits or regulations imposed by government on prices, rents, or quantities that can be charged or supplied in certain markets.

Marginal Social Benefit

The additional benefit to society as a whole from the consumption or production of one more unit of a good or service.

Pollution Emission

The release of pollutants into the environment, often as a byproduct of industrial processes or vehicle operation.