One of the differences between the GDP deflator and the consumer price index is
a. the GDP deflator includes income earned by American citizens working in foreign countries and the consumer price index is based solely on purchases made in the U.S.
b. the consumer price index basket of goods is updated constantly by the Bureau of Labor Statistics whereas the GDP deflator is updated only occasionally.
c. the consumer price index includes items not included in the GDP deflator such as airplanes purchased by the Air Force.
d. the GDP deflator reflects prices for all goods and services produced domestically and the consumer price index reflects prices for some goods and services bought by consumers.
d
You might also like to view...
An increase in the U.S. price level will: a. increase U.S. exports
b. increase U.S. imports. c. increase the quantity of RGDP demanded in the United States. d. both (a) and (c)
When the government levies a tax that is the same fixed percentage of people's incomes, this tax is known as a(n)
a. regressive tax b. progressive tax c. proportional tax d. excise tax e. a unit tax
Unemployment insurance could affect unemployment by:
A. changing the incentives of those unemployed and looking for work. B. decreasing the amount of frictional unemployment. C. increasing the equilibrium level of unemployment. D. All of these are true.
Profits are part of the
A. total income. B. final consumer goods. C. factor services. D. monetary value of output.