The GDP deflator is the best measure that reflects the prices of goods and services purchased by the typical household

If the Chinese Yuan devalues against the US dollar, then

a. Both the US importers and Chinese importers would benefit b. The US importers would benefit while the Chinese importers would be hurt c. The US importers would be hurt while the Chinese importers would benefit d. Both the US importers and Chinese importers would be hurt

The price elasticity of supply

a. is a number between 0 and 1. b. measures the percent change in quantity supply as a result of a 1-percent change in price c. measures the percent change in quantity supplied as a result of a 1-percent change in cost. d. measures the shift in supply as the result of a price change e. measures the movement of a supply curve along a fixed demand curve