An Advantage of the Personal Consumption Expenditures Price Index (PCE)over

question 114

Multiple Choice

An advantage of the personal consumption expenditures price index (PCE) over the Consumer Price Index (CPI) as a measure of inflation is that the PCE

• A)includes the prices of more consumer goods and services.
• B)includes the prices of consumer goods,but not consumer services.
• C)includes the prices of consumer services,but not consumer goods.
• D)is a fixed market-basket price index that does not allow the mix of products to change each year.

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Definitions:

Andrew Johnson

The 17th president of the United States, who served from 1865 to 1869, succeeding Abraham Lincoln following his assassination, and was the first American president to be impeached.

Radical Republicans

Group within the Republican Party in the 1850s and 1860s that advocated strong resistance to the expansion of slavery, opposition to compromise with the South in the secession crisis of 1860–1861, emancipation and arming of black soldiers during the Civil War, and equal civil and political rights for blacks during Reconstruction.

Equal Rights

The principle that all people should have the same rights and opportunities without discrimination.

Thaddeus Stevens

A nineteenth-century U.S. politician and fierce advocate for the abolition of slavery and leader in the effort to implement Reconstruction policies aimed at securing rights for freed slaves.