In General,if a Consumer Good Is Produced Domestically and Consumed

question 179

Multiple Choice

In general,if a consumer good is produced domestically and consumed domestically,an increase in its price will have which of the following effects?

• A)The consumer price index will increase relatively more than will the GDP deflator.
• B)The consumer price index and the GDP deflator will increase by the same amount.
• C)The consumer price index will increase relatively less than will the GDP deflator.
• D)One cannot generalize about the increase in the consumer price index relative to the increase in the GDP deflator.

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Definitions:

Spot Exchange Rates

The present rate at which one currency is traded for another with immediate effect.

Net Income

The overall earnings of a firm once expenses and taxes are subtracted from its total revenue.

Cash Flow Hedge

A financial strategy used to manage the risk of fluctuations in cash flows caused by changes in foreign exchange rates, interest rates, or commodity prices.

Spot Exchange Rates

Refers to the current exchange rate at which a currency can be bought or sold for immediate delivery.