George and Alec agree that Alec will paint George's house for $3,000 dollars and have it completed by June 1st. Alec then approaches George after he starts and states, "if you want me to complete my task by June 1st, I will need an additional $500." George accepts, but on June 1st gives Alec a check for only $3,000 dollars. What is this an example of?

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.