Examlex
In the circular-flow diagram,which of the following items represents a payment for a factor of production?
Basket of Goods
A fixed set of products and services, used to monitor changes in price levels over time to measure inflation.
Inflation Rate
The percentage increase in the price level of goods and services in an economy over a period of time, reflecting a reduction in purchasing power.
Consumer Price Index
An indicator quantifying the mean variation over periods in the financial commitments urban consumers make towards a particular set of consumer goods and services.
Basket of Goods
A fixed set of consumer products and services whose price is monitored over time to calculate inflation through the Consumer Price Index.
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