According to classical macroeconomic theory and monetary neutrality, changes in the money supply affect the GDP deflator
A measure of inflation in the prices of goods and services produced in the United States, including exports. The GDP deflator, though calculated differently, reflects the GDP price index very well. The GDP deflator is used by some companies to adjust payments for contracts.
GDP deflator = nominal GDP / real GDP * 100
Other price indexes such as CPI and GDP deflators are not formed in fixed baskets of goods and services. The basket changes each year depending on the investment and consumption patterns of the people of the year.
The GDP deflator is an essential indicator of the economy and helps to compare the year-to-year rise in price levels of goods and services. Unlike the Consumer Price Index (CPI), the GDP deflator allows comparisons across multiple time periods without using the base year as a constant or specific commodity basket.
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The answer: is E
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The best property would be the railroads in my opinion.
Lessons for the present
- military strategy
- brutal leaders don't last long, less moral societies don't last long
- peasants, slaves need either social mobility or a say in policy to overcome the perceived social injustice.
Classical empires continue to be used as models and inspirations.
1. Mao Zedong compared himself to Shihuangdi
2. Modern Indians pride themselves on Ashoka's nonviolence and tolerance
