The CPI Is Also Referred to as

question 43

Multiple Choice

The CPI is also referred to as

• A)the GDP deflator.
• B)the inflation-consumption index.
• C)the cost-of-living index.
• D)the producer price index.

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Definitions:

Import Quotas

Government-imposed limits on the volume of specific goods that can be imported, aimed at protecting domestic producers by controlling market supply.

Globalization

The integration of national economies into a worldwide economy.

American Consumer

An individual in the United States who purchases goods and services for personal use.

Frederic Bastiat

A 19th-century French economist and writer known for his advocacy of free trade and his witty criticisms of protectionism and socialism.