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.

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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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