The Calculation of the GDP Chain Price Index Differs from the Calculation

question 79

Multiple Choice

The calculation of the GDP chain price index differs from the calculation of the CPI in which of the following ways?

• A) The CPI measures the price changes for all goods and services, whereas the GDP chain price index only looks at certain goods and services.
• B) The GDP chain price index measures the price changes for all goods and services, whereas the CPI only looks at certain goods and services.
• C) The CPI is a percentage, whereas the GDP chain price index method is an index.
• D) The CPI measures only consumer prices, whereas the GDP chain price index measures producer prices.

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Definitions:

Conform to Contract

The act of meeting or complying with the terms and conditions outlined in a contractual agreement.

Good Faith

Acting with honesty and integrity in dealings, without intending to deceive or commit fraud.

UCC

Comprehensive legal guidelines for all commercial transactions in the United States are established by the Uniform Commercial Code.

Proper Reject

In the context of contracts or sales, a proper reject refers to the legitimate refusal to accept goods or services because they do not meet the agreed-upon specifications or standards.