In General,if a Consumer Good Is Produced Domestically and Consumed

question 126

Multiple Choice

In general,if a consumer good is produced domestically and consumed domestically,a decrease in its price will have which of the following effects?

• A)The consumer price index will decrease relatively more than will the GDP deflator.
• B)The consumer price index and the GDP deflator will decrease by the same amount.
• C)The consumer price index will decrease relatively less than will the GDP deflator.
• D)One cannot generalize about the decrease in the consumer price index relative to the decrease in the GDP deflator.

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The legal system of England and Wales, which is based on common law principles, statutes, and legal precedents.

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A legal doctrine requiring certain types of contracts to be in writing and signed by the party to be charged in order to be legally enforceable.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved to be legally enforceable.