1st blank choices:a. value of all goods and services produced in the economy this year. B.cost of a given market basket of goods and services. C.value of all goods and services produced in the economy in the base year 2nd blank: a.the years prices. B. The base year prices3rd blank: a. value of all goods and services produced in the economy this year. B.cost of a given market basket of goods and services. C.value of all goods and services produced in the economy in the base year 4th blank: a.the years prices. B. The base year prices5th blank: a.produced domestically b. Bought by consumers

Attempts Keep the Highest/ 2 2. Alternative price indexes 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 deflator for this year is calculated by dividing the using by the using and multiplying by 100. However, the CPI reflects only the prices of all goods and services Indicate whether each scenario will affect the GDP deflator or the CPI for the United States. Check all that apply. Shows up in the... GDP Scenario Deflator CPI A decrease in the price of a Chinese-made television that is popular among U.S. consumers O O An increase in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine made in the U.S. O 0 but not bought by U.S. consumers