If people bought the same market basket of goods as the average consumer again and again the:. a) consumer price index (CPI) would be extremely accurate. b) consumer price index (CPI) would be less accurate. c) gross domestic product (GDP) deflator would be more accurate. d) gross domestic product (GDP) deflator would be less accurate. e) consumer price index (CPI) would be biased upward relative to the GDP deflator.

If people bought the same market basket of goods as the average consumer again and again the: a) consumer price index (CPI) would be extremely accurate.

answer; the above statement is (true);

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.