Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 11 - Measuring the Cost of Living - Quick Check Multiple Choice - Page 231: 1

Answer

c) GDP deflator

Work Step by Step

Both CPI and the GDP deflator measure changes in the price level over time. CPI calculates the overall price level using a fixed basket of goods, while GDP deflator looks at the relative ratio of nominal to real GDP.
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