The most commonly used measure of changes in the cost of living for households is
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1 mark, −0.33MacroeconomicsNational income accountingPrice indices: the GDP deflator and CPIEasyabout 1 min
UoH 2015 Question 91: National income accounting
Answer and worked solution
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National income accounting has come up 132 times in 6 exams since 2010.
What this question tests
This question is on Price indices: the GDP deflator and CPI, part of National income accounting in Macroeconomics.
How the price level and inflation are measured, and how the deflator differs from the CPI.
TestStop has 18 past-paper questions on this subtopic.
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Question from the UoH 2015 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.