The Primary Purpose of Measuring the Overall Level of Prices

question 175

Multiple Choice

The primary purpose of measuring the overall level of prices in the economy is to

• A) allow for the measurement of GDP.
• B) allow consumers to know what kinds of prices to expect in the future.
• C) allow for the comparison of dollar figures from different points in time.
• D) allow for the comparison of dollar figures from the same point in time.

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Definitions:

Encoding

The initial learning of information; the process by which information is transformed into a representation that can be stored in memory.

Relearning

Acquiring knowledge or skills more quickly in subsequent learning efforts after they have been forgotten or partially lost.

Fill-in-the-blank

A type of question or statement that requires completing with an appropriate word or phrase.

Multiple-choice

A type of question or form of assessment in which respondents are asked to select the only correct answer out of the choices from a list.