A price index is Multiple Choice the cost of a market basket of goods and services in a base period divided by the cost of the same market basket in another period. a ratio of real GDP to nominal GDP. a comparison of real GDP in one period relative to another. a comparison of the current price of a market basket to a fixed point of reference.

A price index is Multiple Choice the cost of a market basket of goods and services in a base period divided by the cost of the same market basket in another period. a ratio of real GDP to nominal GDP. a comparison of real GDP in one period relative to another. a comparison of the current price of a market basket to a fixed point of reference.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 5SQ

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If the price of imported extra virgin olive oil decreases, then both the GDP deflator and the consumer price index will decrease. neither the GDP deflator nor the consumer price index will decrease. the GDP deflator will decrease, but the consumer price index will not decrease. the consumer price index will decrease, but the GDP deflator will not decrease.
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