The GDP Deflator Is

question 145

Multiple Choice

The GDP deflator is:

• A) a measure of the overall change in prices in an economy, using the ratio between real and nominal GDP.
• B) one way of summarizing how prices have changed across the entire economy.
• C) a weighted average of all of the individual price changes in the economy.
• D) All of these statements are correct.

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Definitions:

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The amount of energy, measured in calories, that a person uses to maintain bodily functions and perform physical activities.

Biological Damage

Physical harm or deterioration to biological organisms or systems.

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A reduced ability of the immune system to fight infections and diseases, which can be caused by a variety of factors including stress, disease, or malnutrition.

General Adaptation Syndrome

A model describing the body's short-term and long-term reactions to stress, characterized by three stages: alarm, resistance, and exhaustion.