Multiple Choice
Which of the following can the GDP deflator be used to identify?
A) the increase in nominal GDP that is due to an increase in prices rather than an increase in production
B) the increase in real GDP that is due to an increase in prices rather than an increase in production
C) the increase in the cost of living for typical Canadian consumers
D) the reduction in government spending required to balance the federal budget
Correct Answer:

Verified
Correct Answer:
Verified
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