The amount of goods and services each dollar buys at a given point in time is:
A) inflation.
B) consumer price index (CPI).
C) purchasing power.
D) gross domestic product (GDP).
E) none of the above

Question

Quizplus · Accepted Answer

The amount of goods and services each dollar buys at a given point in time is referred to as purchasing power. Inflation refers to the general increase in prices over time, CPI is a measure of inflation, and GDP measures the total output of a country's economy. Therefore, C is the correct answer.

The Amount of Goods and Services Each Dollar Buys at a Given