Question

Economics

Consumer Priced Index (CPI) - Expresses the current price of a basket of goods or services in terms of the prices during the same period in a previous year.
Gross Domestic Product (GDP) - Monetary value of all the finished goods and services produced within a countries borders in a specific time period.
Macroeconomics - The study of large scale economic factors such as overall workings of a national economy and its relationship to international markets.
Microeconomics - The study and analyses of individual consumers and firms to understand the decision-making process of households and firms.
Choice - A consumer's decision to purchase one good or service over an alternative.
Scarcity - When demand is higher than availability.
Answer the following questions based on the above economic definitions:

What does CPI compare?
A) Money to People
C) Dollars to Euros
B) Purchasing power at different times
D) Wal-Mart to Target

What is the basic relationship between scarcity and choice?
A) Planned Economy
B) Free Enterprise
C) Strategic Industry
D) Absolute Advantage

What would help you decide if the price of a soda has increased or decreased?
A) Choice
B) GDP
C) Scarcity
D) CPI

What your family buys and sells is considered
A) Macroeconomics
B) Microeconomics

Pls help I can’t answer this last 4 questions.

Answer 1

Here are the answers to the remaining questions:

What does CPI compare?

Answer: B) Purchasing power at different times

What is the basic relationship between scarcity and choice?

Answer: D) Absolute Advantage

What would help you decide if the price of a soda has increased or decreased?

Answer: D) CPI

What your family buys and sells is considered

Answer: B) Microeconomics

I hope this helps! If you have any more questions, feel free to ask.