Which Goods Did NOT Decrease in Price Between 2000 and 2010

question 64

Multiple Choice

Which goods did NOT decrease in price between 2000 and 2010?

• A) Personal computers and peripherals.
• B) Alcoholic beverages away from home.
• C) Televisions.
• D) New vehicles.

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Definitions:

Optimal Combination

The most favorable mix of goods, services, or resources to achieve the highest level of satisfaction or output with given resources and constraints.

Efficiency

The property of a resource allocation of maximizing the total surplus received by all members of society.

Equality

The property of distributing economic prosperity uniformly among the members of society.

Decision Making

The cognitive process resulting in selecting a course of action among several alternatives.