The Ratio (Price Level in Earlier Time)/ (Price Level Today)would

question 57

Multiple Choice

The ratio (Price Level in Earlier Time) / (Price Level Today) would be used to

• A) convert the consumer price index (CPI)to the gross domestic product (GDP)deflator.
• B) convert today's price to an earlier price,adjusting for inflation.
• C) find the percentage of substitution bias.
• D) find the percentage of the quality change bias.
• E) convert an earlier price to today's price,adjusting for inflation.

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