A Major Difference Between the CPI and the GDP Price

question 175

Multiple Choice

A major difference between the CPI and the GDP price index is that the CPI includes

• A)all domestically produced goods and the price index includes only a sample of domestically produced goods
• B)all domestically produced goods and the price index includes a sample of goods consumed,including imported goods
• C)only a sample of domestically produced goods and the price index includes all domestically produced goods
• D)a sample of goods consumed,including imported goods,and the price index includes all domestically produced goods
• E)a sample of all goods consumed that are domestically produced,and the price index includes all goods produced

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Definitions:

Merchant

An individual or business that sells goods or services in a commercial transaction.

Commercial Fisherman's Coop

A cooperative organization established by commercial fishermen to provide mutual benefits such as marketing, purchasing supplies, and advocating for fishermen's interests.

Goods

Items or merchandise that are produced for sale or use.

Contract

A legally binding agreement between two or more parties that is enforceable by law.