sapling learning Label each statement according to whether it describes the Cons

Question

sapling learning Label each statement according to whether it describes the Consumer Price Index (CPI) or GDP deflator. 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. Is equal to 100 for the base year. Is based on commonly used consumer goods only. Includes the quantity and price of forklifts produced. Equals nominal GDP divided by real GDP, multiplied by 100. Tracks changes in the cost of imported investment goods. Is subject to biases because it does not reflect changes in GDP deflator CPI buying patterns. is often used to index union wage contracts

Explanation / Answer

Is equal to 100 for the base year:

is based on commonly used consumer goods only: CPI

Includes the quantity and price of forliftors: GDP deflator

Equals nominal gdp divided by real gdp multiplied by 100: GDP deflator

Tracks changes in cost of imported investment goods: GDP deflator

Is subject to biases because it does not reflect changes in buying patters: CPI

Is ofte used to index union wage contracts: CPI

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