The GDP Implicit Price Deflator Is

question 3

Multiple Choice

The GDP implicit price deflator is:

• A) a broad index that includes the price of a specific basket of goods and services.
• B) a more narrow measure than the CPI, as it only includes producer prices.
• C) used to calculate nominal GDP from real GDP.
• D) a measure of changes in the prices of consumer goods, business investment, government spending and exports and imports.

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Definitions:

Cognitive

Relating to cognition, involving the processes of thinking, understanding, learning, and remembering.

Physical

Relating to the body as opposed to the mind or emotions, involving bodily movements or activities.

Emotional

Pertaining to feelings or psychological states that involve a person's mood, temperament, personality, and disposition.

Critical Periods

Specific times during an organism's life span when it is especially sensitive to environmental influences or stimulations.