For the Following Question(s), Suppose That an Economy Produces Only

question 72

Multiple Choice

For the following question(s) , suppose that an economy produces only bread and computers. Assume that all production is consumed in each year, and that price and quantity data are given in the table below.

-Changes in the relative prices of goods causes problems measuring real GDP because

• A) consumers change their buying habits.
• B) consumers buy less of the cheaper good.
• C) firms produce more of the cheaper good.
• D) price deflators only measure the price level.
• E) they tend to be inaccurate.

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