All of the following statements are correct except:
A) Generally, what matters most to consumers is what a good costs in dollars.
B) The relative price of a good is its price measured relative to the price of other goods.
C) The real price of a good is calculated by adjusting its nominal price to account for changes in the prices of goods in general.
D) When the price of eggs goes up by the same proportion as prices of all other goods, the relative price of eggs does not change.

Question

Quizplus · Accepted Answer

The statement that generally what matters most to consumers is what a good costs in dollars is not always correct. Consumers often consider the relative and real prices of goods, which take into account the prices of other goods and purchasing power, respectively.

All of the Following Statements Are Correct Except