An article in the Economist about Venezuela stated: "The economy is in such an appalling state, and inflation is so high, that Venezuelans greeted a rise of 60% in the minimum wage on May 1st with shrugs of 'so what?"." Source: "It's Up to the Army," Economist, May 6, 2017. What would be a reason why the people of Venezuela would shrug off a rise in the minimum wage of 60 percent? O A. With the extra purchasing power from the wage increase, prices would fall and they would experience deflationary conditions O B. Even though their wages were increasing by 60 percent, prices were increasing by just as much. O C. They would not be able to spend the extra money and instead need to hold as much paper money as possible. . D. The wage increase would not be enough to offset the redistribution of income that occurred during the hyperinflation.An article in the Economist states that "the appeal of GDP is that it offers, or seems to, a summary statistic of how well an economy is doing." Source: "The Euro-Area Economy: Speeding Up," Economist, May 6, 2017. In what sense does GDP offer a summary statistic of how well an economy is doing? A. GDP can measure happiness among citizens-that is, the more goods an economy produces, the happier its people are-thus indicating well-being. B. Since GDP accounts for crime, pollution, and other social problems, it can be used as a rough measure of well-being. C. GDP is able to provide a summary of the goods and services consumed by a typical person, thus indicating well-being. D. Since GDP measures how much an economy produces during a period of time, it may also indicate well-being. Why qualify the statement about GDP as a summary statistic by including the phrase "or seems to"? O A. As a summary statistic, GDP tends to focus more on measuring individuals' well-being rather than measuring an economy's total production. O B. As a summary statistic, GDP overlooks some areas of production that take place in an economy. O C. As a summary statistic, GDP places too much emphasis on the negative effects of crime, pollution, or other social problems. O D. As a summary statistic, GDP overstates production by including the value of goods produced illegally