In Chapter 19, you learned how to compute one price index, the GDP deflator. In this chapter,
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In Chapter 19, you learned how to compute one price index, the GDP deflator. In this chapter, you learned how to compute another price index, the CPI. In computing both indexes, something is held constant. In one paragraph, describe the construction of each index and explain what is held constant.
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A key part of the CPI construction is seeing ho...View the full answer
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