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Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly

asked Jun 17, 2022 116k views

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator.

The GDP price index for this year is calculated by dividing the ______________using __________ by the_____________ using _______________ and multiplying by 100.

Indicate whether each scenario will affect the GDP deflator or the CPI for the United States.

a. A decrease in the price of a Waterman Industries deep-water reel, which is a commercial fishing product used for deep-sea fishing
b. An increase in the price of a Japanese-made television that is popular among U.S. consumers

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