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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

If the price of imported French wine rises, is the CPI or the GDP deflator affected more? Why?

To determine

Effect on CPI and GDP deflator.

Explanation

GDP deflator takes into account only goods and services that are domestically produced in the economy. Since French wine is an imported commodity, its price rise has no effect on the GDP deflator...

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