Chain-weighted GDP deflator inflation differs from GDP deflation inflation because:
a. it uses different goods in its calculation.
b. it uses two different base years to get the quantities used to calculate the index.
c. it uses a constant set of prices every year.
d. it uses two different base years to get the prices used to calculate the index.
D
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Externalities can be either detrimental or beneficial to others
a. True b. False Indicate whether the statement is true or false
Using the midpoint method, the price elasticity of demand for a good is computed to be approximately 0.75 . Which of the following events is consistent with a 10 percent decrease in the quantity of the good demanded?
a. a 7.5 increase in the price of the good b. a 13.33 percent increase in the price of the good c. an increase in the price of the good from $7.50 to $10 d. an increase in the price of the good from $10 to $17.50