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3. Inflation is measured by Consumer Price Index, Producer Price Index, and the GDP implicit price deflator. Which of the statements about inflation are CORRECT?

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3. Inflation is measured by Consumer Price Index, Producer Price Index, and the GDP implicit price deflator. Which of the statements about inflation are CORRECT? a. CPI uses retail prices and the cost of many services b. PPI does not include the cost of any services c. GDP deflator reflects the broadest measure of economic activity d. All of the above

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