The GDP Deflator Only Measures the Prices of the Consumer

question 109

True/False

The GDP deflator only measures the prices of the consumer and investment components of GDP, and does not include the prices of government goods and services.

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Definitions:

Low-Income

Referring to individuals or families that earn substantially less income than the average for their society or geographical area.

Admission-Free

Denotes situations or events where no fee is required to enter or participate.

Institutionalization

The process of establishing something as a norm or standard in an organizational or societal context.

Highbrow

Pertaining to or designed for people with sophisticated tastes or intellectual interests.