6112018 1155 PM 862100 Print Calculator B Grade estion 14 o

6/11/2018 11:55 PM 86.2/100 Print ?? Calculator B Grade estion 14 of 14 Map Sapling Learning Label each statement Statements may describe one, both, or neither of the terms. If both labels apply, place both in the box. If neither applies, leave the box blank. to whether it describes the Consumer Price Index (CPI) or GDP deflator Is a weighted average of prices Is based on commonly used consumer goods only Includes the quantity and price of 747 aircraft produced. Equals nominal GDP divided by real GDP, multiplied by 100 Uses the same prices for goods in the market basket and adjusts the quantities to reflect changes over time. Is subject to biases because it does not reflect changes in buying patterns Is often used to index union wage contracts. Previous Give UP & View Solton D chock Answer ONext ??Ext Hint about us careers privacy policy terms of use contact us

Solution

CPI:
It is a weighted average of prices
It is based on commonly used consumer goods only
Is often used to index union wage contracts
Is subject to biases because it does not reflect changes in buying patterns

GDP deflator
Includes the quantity and price of 747 aircraft produced
Includes nominal GDP divided by Real GDP multiplied by 100
Uses the same prices for goods in the market basket and adjusts the quantities to reflect changes in buyin