Choose the Word or Phrase in [ ] Which Will

question 56

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The Consumer Price Index is a measure of [unemployment | inflation].

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Definitions:

Diffusion

The spread of an innovation through its widespread imitation.

Technological Advance

(1) An improvement in the quality of existing products, the invention of entirely new products, or the creation of new or better ways of producing or distributing products. (2) Any improvement in the methods by which resources are combined such that the same quantity of inputs can be made to yield a combination of outputs that is preferred to any combination of outputs that was previously possible.

Distributing

The process of making goods or services available to consumers, often through various channels.

Economists' Models

Simplified representations of the real world used by economists to predict economic outcomes and explore economic theories.