Q3-f09S - Temple University Economics 1901 Fall 2009 Quiz...

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Temple University Economics 1901 Fall 2009 Quiz #3 Name ____________________________ Multiple Choice (2 points each) Please circle the most appropriate answer. 1. The difference between the GDP deflator and the CPI is that a. The deflator applies to a broader array of products b. The CPI is a per capita measure c. The deflator applies to intermediate goods as well as final goods d. The CPI accounts for changes in the base year Answer: A – The GDP deflator applies to all goods in GDP, regardless of whether they enter as C, I, G, or (X-M). The CPI applies only to households and C. 2. The fact that the French take longer vacations than Americans means that France’s a. GDP per capita is overstated compared to the U.S b. GDP per capita is understated compared to the U.S. c. GDP per capita is understated compared to its real GDP per capita d. GDP deflator is overstated compared to the U.S. Answer: B – GDP per capita in France would be much greater if many (most?) French didn’t take
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Q3-f09S - Temple University Economics 1901 Fall 2009 Quiz...

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