When the government chooses to use resources to build a dam, these sources are no longer available to build a highway. This choice illustrates the concept of

In the United States, imports have exceeded exports in every year since 1979

a. True b. False

The GDP deflator does not differ from the CPI in its measurement of inflation in that it:

A. measures the price changes of all goods, not just those in a typical consumer's basket. B. uses the total quantities that are produced, not the ratio of what a typical consumer might consume. C. does not include imports, which may have a real effect on the typical consumer's cost of living. D. is the most widely used measure of price level changes for goods and services for consumers.