Which of the Following Is NOT a Result of Completeness

question 38

Multiple Choice

Which of the following is NOT a result of completeness and rankability?
I. A person prefers one consumption bundle to another.
II. A person is indifferent between two consumption bundles.
III. A person likes jelly beans more than hamburgers.

• A) I
• B) II
• C) III
• D) None of the above

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Definitions:

Real GDP

An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, expressed in base-year prices, to provide a truer reflection of economic growth.

GDP Deflator

An economic metric that adjusts the nominal GDP figure to account for changes in price levels, providing a more accurate picture of an economy's size and health over time.

GDP Deflator

A way to measure the cost of all newly made, domestically originated, final goods and services in a country's economic framework.

Inflation Rate

The velocity at which the entirety of goods and services' prices amplifies, draining the monetary capacity to acquire.