1 answer

The COVID-19 Pandemic has reduced consumer income. As a result we can expect consumption spending to...

Question:

The COVID-19 Pandemic has reduced consumer income. As a result we can expect consumption spending to [Select] We can also exp
Across a forty-year period the price of gas increased from 35 cents to $1.26. At the same time, the consumer price index incr
Question 56 1.67 pts The COVID-19 Pandemic has reduced consumer income. As a result we can expect consumption spending to [Se
The COVID-19 Pandemic has reduced consumer income. As a result we can expect consumption spending to [Select] We can also expect spending on imported goods to [Select) and the value of net export spending will [Select)
Across a forty-year period the price of gas increased from 35 cents to $1.26. At the same time, the consumer price index increased from 40.2 to 124.62. Across the forty-year period, the nominal price of gas_and the real price of gas increased : decreased O increased : increased O decreased: increased decreased : decreased
Question 56 1.67 pts The COVID-19 Pandemic has reduced consumer income. As a result we can expect consumption spending to [Select) We can also expect spending on imported goods to [ Select] and the value of net export spending will ✓ [Select ] remain unchanged decrease increase

Answers

The Covid 19 pandemic has reduced consumer income.As a result we can expect consumption spending to decrease.We can also expect spending on imported goods to decrease and the value of net export spending will decrease .

Across the 40 year period,the nominal price of gas increased and the real price of gas increased.

Nominal price of a good is the value in terms of money.Real price is the value in terms of some other good and is used to make comparison of different goods. Consumer price index measures the change in prices over time that consumers pay for a basket of goods.

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