If the Per Unit Prices of the Three Goods Each

question 59

Multiple Choice

If the per unit prices of the three goods each were $1 in a base year used to construct a GDP price index,then the GDP price index in the current year is:

• A) 205.5.
• B) 255.5.
• C) 39.3.
• D) 100

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Definitions:

Tangible Goods

Physical items that can be seen, touched, and usually kept in inventory, as opposed to services.

Inconsistent Product Definition

A situation where there is a lack of uniformity or clarity in outlining the features and specifications of a product, leading to confusion or variability in production.

Goods And Services

Products that satisfy human wants or needs, which can be tangible items or intangible services.

Knowledge-Based

A system or process that is driven by the understanding, skills, and expertise of its participants rather than by mere access to raw data.