A Decrease in the Price of Domestically Produced Industrial Robots

question 35

Multiple Choice

A decrease in the price of domestically produced industrial robots will be reflected in

• A)both the GDP deflator and the consumer price index.
• B)neither the GDP deflator nor the consumer price index.
• C)the GDP deflator but not in the consumer price index.
• D)the consumer price index but not in the GDP deflator.

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Definitions:

ATMs

Automated Teller Machines, which are electronic banking outlets that allow customers to complete basic transactions without the aid of a branch representative or teller.

Bank Tellers

Employees of a bank who deal directly with customers, handling transactions and providing service.

Technological Innovation

The introduction of new technology or methods that significantly improve products, processes, or services.

Marginal Product Labor

The additional output produced as a result of employing one more unit of labor, holding other inputs constant.