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(b) Why, in the opinion of many economists, does the US government measure both a GDP deflator and a CPI? Historically and em- pirically, how
(b) Why, in the opinion of many economists, does the US government measure both a GDP deflator and a CPI? Historically and em- pirically, how have the two been related since the early 1970's? [Clarification, if there are any significant differences between the two measures in the data, I am asking you to describe those dif- ferences. If one of the two measures shows more "inflation" on a consistent basis, give two reasons besides the limitation of the CPI to consumer goods, why this is the case
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