Questions 1-6 refer to Table 1 below. Table 1 Apples Burritos Chewing Gum 2012 Quantity 50 80 60 $0.40 1.50 1.25 Price Quantity 75 100 2013 70 $0.50 1.60 1.50 Price Table 1 gives quantities and prices for each good produced in a simple economy in 2012 and 2013. Refer to Table 1. Nominal GDP in 2012 is:
Questions 1-6 refer to Table 1 below. Table 1 Apples Burritos Chewing Gum 2012 Quantity 50 80 60 $0.40 1.50 1.25 Price Quantity 75 100 2013 70 $0.50 1.60 1.50 Price Table 1 gives quantities and prices for each good produced in a simple economy in 2012 and 2013. Refer to Table 1. Nominal GDP in 2012 is:
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 4SQP
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Refer to Table 1. Nominal GDP in 2013 is
Refer to Table 1. Assume that 2012 is the base year. Real GDP in 2013 is
Refer to Table 1. Assume that 2012 is the base year. The GDP deflator for 2012 is
Refer to Table 1. Assume that 2012 is the base year. The GDP deflator for 2013 is
Refer to Table 1. The Inflation rate between 2012 and 2013 is
Please do not forget the nominal GDP in 2012 as well.
Thank you
Transcribed Image Text:Questions 1-6 refer to Table 1 below.
Table 1
Apples
Burritos
Chewing Gum
2012
Quantity
50
80
60
$0.40
1.50
1.25
Price
Refer to Table 1. Nominal GDP in 2012 is:
Quantity
75
100
2013
70
$0.50
1.60
1.50
Price
Table 1 gives quantities and prices for each good produced in a simple economy in 2012 and 2013.
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