Answered: To measure the inflation rate, we…

To measure the inflation rate, we calculate the percentage change ini. the consumer price indexii. the GDP deflatoriii. real GDPiv. nominal GDP a.iii b. any of these c. i, ii, or iii b. i or ii

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

To measure the inflation rate, we calculate the percentage change in
i. the consumer price index
ii. the GDP deflator
iii. real GDP
iv. nominal GDP

a.iii

b. any of these

c. i, ii, or iii

b. i or ii

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