The GDP deflator measures
A) the price level.
B) nominal GDP.
C) the quantity level.
D) the quality of the goods and services in GDP.
E) real GDP.
Correct Answer:
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Q8: If your nominal income is $80,000 and
Q9: In a small, agricultural nation, consumers buy
Q10: The real interest rate equals the
A)nominal interest
Q11: If the nominal wage is $30 in
Q12: For the purpose of measuring the cost
Q14: The CPI is reported once every
A)quarter.
B)other year.
C)year.
D)week.
E)month.
Q15: An example of the commodity substitution bias
Q16: Consumers in Beachland consume only two goods,
Q17: The CPI was 170 last year and
Q18: In 1970, the CPI was 39 and
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