Brief Principles of Macroeconomics...
Brief Principles of Macroeconomics...
If a Pennsylvania gun manufacturer raises the price of rifles it sells to the U.S. Army, its price hikes will increase
a. both the CPI and the GDP deflator.
b. neither the CPI nor the GDP deflator.
c. the CPI but not the GDP deflator.
d. the GDP deflator but not the CPI.
Theprice hike and its affect on CPI and GDP deflator.
Option (d)
Even though the gun is part of GDP, it is not part of the basket of goods and services bought by a typical consumer. Thus, the price hike shows up in the GDP deflator but not in the CPI. Thus, option‘d’ is correct.
Option (a)
The rise in price of rifle does not affect the CPI as it is not bought by a typical consumer part of the basket of goods and services...
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