Decreasing aggregate demand to eliminate an inflationary gap often creates the problem of

Suppose there are seven firms in a market where the three largest firms supply 20% of the market-clearing quantity and the other four firms supply 10% of the market-clearing quantity. What is the five-firm concentration ratio (i.e

, the share of total sales controlled by the five largest firms in the market)? A) 60% B) 70% C) 80% D) 90%

The Bureau of Labor Statistics periodically updates the base year in the CPI because

a. nominal GDP changes over time b. of changes in the importance of goods in the consumer basket c. real GDP changes over time d. the GDP deflator is periodically updated e. prices change over time