Macroeconomics: Chapter 6 Launchpad

If the cost of a typical market basket in 2019 is 400 and the cost of a typical market basket in 2020 is 390, then during this period the economy us undergoing:

Deflation

GDP deflator is an index that includes prices of all of the following EXCEPT:

Imports

Core inflation is found by removing ____ from the consumer price index.

food and energy

Which of the following items is NOT included in the GDP deflator?

imported mangoes

The twin perils of the modern macroeconomy are said to be:

inflation and unemployment

People who are considered unemployed include:

None of those listed is considered unemployed

Which one of the following would NOT lead to higher prices?

an increase in the supply of food

________ is a reduction in the rate of inflation

disinflation

Arlina got a 5% raise while the rate of inflation was 6%. Arlina's standard of living:

fell by 1%