Author Question: The GDP deflator: a. takes government purchases into account, unlike the CPI. b. takes business ... (Read 165 times)

Garrulous · **on:** Jun 30, 2018

The GDP deflator:
a. takes government purchases into account, unlike the CPI.
b. takes business investment purchases into account, unlike the CPI.
c. is generally used to adjust nominal GDP to calculate real GDP.
d. All of the above are true.

Question 2

Private property rights are important because:
a. they create incentives for people to improve their standard of living.
b. the Constitution says so.
c. they allow students to choose their major field of study in college.
d. an economy cannot function without them.
e. goods cannot be produced without them.