Solved

If the Price of Used Automobiles Increased Dramatically Relative to All

Question 40

Multiple Choice

If the price of used automobiles increased dramatically relative to all other prices,and the demand for all goods remained the same,which of the following would most likely occur?


A) The GDP price index would decrease less than the CPI.
B) Both the GDP price index and the CPI would decrease.
C) The GDP price index would increase more than the CPI.
D) The CPI would increase more than the GDP price index.
E) Both the GDP price index and the CPI would increase by the same amount.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions