The Relative Price of a Good

question 77

Multiple Choice

The relative price of a good

• A)is always measured in current dollars.
• B)is a measure of the relative share of the consumer's income devoted to its purchase.
• C)is its price in terms of money.
• D)is equal to the average price of the good over the last 5 years.
• E)reflects its price in terms of units of other goods.

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Definitions:

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