Question 17 1 pts Given a Bureau of Labor Statistics model the CPI is determined by computing: The price of a fixed basket of goods and services, relative to the price of the same basket in a base year. O The price of a basket of goods E services that changes every year. relative to a basket in a base year. O Nominal GDP relative to real GOR. Q An average of prices of all goods and services. Question 18 1 pts Firm revenue is $6 million. Employee wages are $4.5 million and the firm buys equipment that costs $300,000. What is the firm's economic profit O 1,500,000 0 0 Q 1,200,000 Q - 1200,000 Question 19 1 pts Deflation is: O A sustained increase in the price level and often good for an coonomy A sustained decrease In the price level and often good for an economy O A sustained decrease in the price level and often bad for an economy O A sustained increase in the price level and often good for an economy Question 20 1 pts A common goal of a Central Bank is Balanced government budget O Price level stability O All of the answers are correct. O Technological innovation