A Price Index Measures

question 14

Multiple Choice

A price index measures:

• A)the price of specific good or service.
• B)the change in the price of a specific good or service.
• C)only the prices that change.
• D)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.

---

Definitions:

Preexisting Duty Rule

In contract law, a principle that states if someone is already legally required to perform a certain duty, promising to perform that duty is not sufficient consideration for a new contract.

Consideration

The value (such as money, services, or goods) promised in a contract that motivates parties to enter into the agreement.

Ethical

Related to moral principles or the branch of knowledge dealing with these.

Liquidated Debt

A debt where the amount owed is known and determined, not subject to future conditions.