Chain-weighted GDP deflator inflation differs from GDP deflation inflation because:
a. it uses different goods in its calculation.
b. it uses two different base years to get the quantities used to calculate the index.
c. it uses a constant set of prices every year.
d. it uses two different base years to get the prices used to calculate the index.
D
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The current account does not include which of the following?
A) U.S. holdings of foreign assets B) net transfers C) net exports D) net investment income
Complaints are often made to the International Trade Commission concerning foreign "dumping" practices. These complaints typically claim that
A) U.S. firms are harmed by the unfair pricing of foreign exporters. B) foreign companies are charging exorbitant prices that are higher than the true value of the products. C) foreign companies are charging prices that are lower than prices they charge countries other than the U.S. D) U.S. consumers are harmed by the lack of quality control or health concerns in foreign countries. E) U.S. consumers cannot differentiate between the foreign and domestic goods.
Suppose that good X is a luxury and that good Y is a necessity. Which good would you expect to have more price inelastic demand?
Equitable
What will be an ideal response?