Answer:
Explanation:
The GDP deflator for this year is calculated by dividing the value of all goods and services produced in the economy this year using this year's price by the value of all goods and services in the economy this year using base price year's and multiplying by 100. However, the CPI reflects only the prices of all goods and services bought by the consumers.
The economic principle is at work here regarding the house is known as progression.
<h3>What is an economic principle?</h3>
It should be noted that economic principle simply means the laws and theories that explain and economic situation.
In this case, the economic principle is at work here regarding the house is known as progression.
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