The GDP deflator is not used to identify the increase in the cost of living for typical Australian households.

Name: The GDP deflator is not used to identify the increase in the cost of living for typical Australian households.
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Question

Quizplus · Accepted Answer

The GDP deflator measures the overall increase in prices within the economy, not the specific increase in cost of living for households. The Consumer Price Index (CPI) is a more appropriate measure for identifying changes in cost of living for households.

The GDP Deflator Is Not Used to Identify the Increase