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Capital Quiz

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Questions and Answers

What is the definition of capital?

Capital refers to financial assets or resources that are used to generate income or wealth.

Give an example of capital.

An example of capital is money that is invested in a business to purchase equipment and inventory.

Why is capital important in economics?

Capital is important in economics because it enables businesses to produce goods and services, create jobs, and stimulate economic growth.

Which of the following best describes a consumer price index (CPI)?

A weighted average of consumer goods and services Signup and view all the answers

What is the purpose of calculating the CPI?

To measure changes in prices over time Signup and view all the answers

How are the prices of goods and services in the CPI basket collected?

Monthly from a sample of retail and service establishments Signup and view all the answers

What is one limitation of the CPI as a measure of inflation?

It does not account for changes in quality or features Signup and view all the answers

What can the CPI be used for?

All of the above Signup and view all the answers