The GDP price index:
A)includes fewer goods and services than the consumer price index.
B)is identical to the consumer price index.
C)is another term for the producer price index.
D)includes all goods comprising the nation's domestic output.

Question

Quizplus · Accepted Answer

The GDP price index, also known as the GDP deflator, includes all goods and services comprising the nation's domestic output, making it broader than the consumer price index. It is not identical to the consumer price index, which only measures price changes for goods and services purchased by consumers, nor is it the same as the producer price index, which measures price changes for goods and services purchased by businesses.

The GDP Price Index