Match the values on the left with the matching value on the right from the dropdown.

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Understand the Problem

The question is asking to match concepts related to economic terms, specifically around the consumer price index and taxation. It requires understanding the definitions and applications of these terms.

Answer

Consumer price index matches with 'An index of the prices of a representative "basket" of consumer goods and services.' A tax on imported goods is a 'Tariff.'

Here are the matches:

  1. The consumer price index -> An index of the prices of a representative 'basket' of consumer goods and services.
  2. The price of maize in Lesotho -> Not enough information to determine, could refer to a specific data set or report.
  3. A tax on imported goods -> Tariff.
  4. Applies to goods only, including capital and intermediate goods, excludes VAT -> Customs duty.
  5. It is an average figure for the economy as a whole -> GDP or a similar economic metric.
Answer for screen readers

Here are the matches:

  1. The consumer price index -> An index of the prices of a representative 'basket' of consumer goods and services.
  2. The price of maize in Lesotho -> Not enough information to determine, could refer to a specific data set or report.
  3. A tax on imported goods -> Tariff.
  4. Applies to goods only, including capital and intermediate goods, excludes VAT -> Customs duty.
  5. It is an average figure for the economy as a whole -> GDP or a similar economic metric.

More Information

Consumer price index refers to measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. A tariff is a tax imposed on imported goods and services.

Tips

A common mistake is confusing 'customs duty' with 'tariff'. Remember, tariffs specifically tax imports.

Sources

AI-generated content may contain errors. Please verify critical information

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