If the nominal price of apples has increased by 20 percent over a year in which the average price level has risen by 10 percent, then the real price of apples:
1 point
has decreased.
cannot be determined without further information.
has increased.
has stayed the same.
10.
Question 10
What does the consumer price index measure?
1 point
The change in the value of a currency
The average price of a good over five years
The change in the average price level in the economy
The change in nominal prices of goods and services