The most frequently reported price index is O the personal consumption expenditure (PCE) deflator the interest income deflator O the consumer price index (CPI) O chain weighted GDP Othe gross domestic product (GDP) deflator

The most frequently reported price index is O the personal consumption expenditure (PCE) deflator the interest income deflator O the consumer price index (CPI) O chain weighted GDP Othe gross domestic product (GDP) deflator

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A price index (PI) determines how the prices change over a specific time frame, or in other words, an approach to measure inflation. Thus it is a measurement that depicts how the average price for a standardized group of items changes over time.

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hand written plz please give me correct answer asap You live in Canada, and purchased a car manufactured in Japan this year from a dealer in Canada. The entire amount you spent on the car is in Canada's GDP because: O a. not included; the amount going into the dealer's pocket should be excluded. O b. included; you live here. O c. included; it was sold here. O d. not included; the amount going to the Japanese manufacturer should be excluded. O e. included; the car dealer is Canadian.
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Suppose you have the following information about household expenditure:Year Nominal ($m) Real ($m)2013 145 1302014 150 128Which of the following must be true? Select one: a. Both the price and quantity of goods and services in household expenditure have increased. b. Both the price and quantity of goods and services in household expenditure have decreased. c. The price of goods and services in household expenditure has increased and the quantity has decreased. d. The price of goods and services in household expenditure has decreased and the quantity has increased.
3. Suppose an economy has two years worth of data, years 1 and 2. Sup- pose there are also two goods, bread and corn. Suppose, in year one, 30 units of corn are sold at a price of 1 $ and 20 units of bread are sold at a price of 2 S. Suppose in year two, 60 units of corn are sold at a price of 1.5 $ and 80 units of bread are sold at a price of 4 $. Compute nominal GDP in both periods. Compute real GDP under both defini tions of a base year. Compute also a chain weighted real GDP series. For all three measures, compute the GDP deflator
H10.
A final good or service is something that O retains no value when factored into the GDP O is not a component of another good or service O does not factor into the GDP is the component for a final product