Flashcards in Week 4- Cost of Living problem set Deck (15):
When box office receipts are NOT corrected for inflation-
Avatar is the most popular movie.
GDP Deflator reflects current level of prices to-
Prices for all goods produced domestically per year.
Consumer price index reflects prices for goods___
bought by consumers.
CPI is calculated___by___
calculated "monthly" by "BLS".
Most accurate statement for CPI___
CPI compares price of a fixed basket of goods to price of the basket in the base year.
Most accurate statement for GDP deflator___
Compares price of current good to price of the same good.
Overall cost of goods bought by a consumer.
Economy’s inflation rate is the % increase in price index from___
CPI gauge how much incomes must rise to maintain___
A constant standard of living.
In the US, if price of imported oil rises, which causes price of gas and heating oil rise, then CPI___
Rises much more than GDP deflator.
CPI is the measurement for___
Cost of living.
CPI is used to turn___
Dollar figures into meaningful measures of purchasing power.
When CPI rises, we spends___
More to maintain the same standard of living.
When box office receipts are not corrected for inflation___
Gone w/ the Wind does not rank as one of the 50 most popular movies of all time.