A Measure of the Average Price of a Given Class

question 85

Multiple Choice

A measure of the average price of a given class of goods or services relative to the price of the same goods and services in a base year is called a:

• A)real price.
• B)real quantity.
• C)rate of inflation.
• D)price index.

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Definitions:

Assumption of the Risk

A defense in tort law that a person knowingly exposed themselves to a dangerous situation and is therefore responsible for their own injuries.

Contributory Negligence

A legal concept where the plaintiff's own negligence played a part in causing their damages, potentially reducing the amount they can recover.

Elements of Causation

Fundamental components required to establish a cause-and-effect relationship in a legal context, typically including direct cause, foreseeability, and harm.

Proximate Cause

The primary cause that in a natural and continuous sequence, unbroken by any efficient intervening cause, produces an event and without which the event would not have occurred.