Please help me these 3 question 1) Suppose GDP consists of book and clothes. In 2020, 200 books are sold at $8 each unit, and 20 clothesare sold at $50 each unit. In 2019, 180 books are sold at $8 each unit, and 16 clothes are sold at $40each unit. If the price of book was $5 and the price of cloth was $40 in 2010, the base year, what is theeconomic growth rate in 2020? What is the percentage change in GDP deflator in 2020 comparedwith 2019?2) Suppose that the typical consumer basket consists of 100 books and 20 clothes and the base year is2020. What is the inflation rate in 2020?Price of bookPrice of Clothesyear2019$10$452020$12$503) A car salesperson gives you four alternative ways to pay for your car. The first is to pay $18,000today. The second is to pay $19,000 one year from today. The third is to pay $20,300 two years fromtoday. The fourth is to pay $21,500 three years from today. If the interest rate is 6 percent, whichpayment option should you make a choice?

Hi! thanks for the question but as per the guidelines, we answer only one question at one time.…

1) Suppose GDP consists of book and clothes. In 2020, 200 books are sold at $8 each unit, and 20 clothes are sold at $50 each unit. In 2019, 180 books are sold at $8 each unit, and 16 clothes are sold at $40 each unit. If the price of book was $5 and the price of cloth was $40 in 2010, the base year, what is the economic growth rate in 2020? What is the percentage change in GDP deflator in 2020 compared with 2019?

1) Suppose GDP consists of book and clothes. In 2020, 200 books are sold at $8 each unit, and 20 clothes are sold at $50 each unit. In 2019, 180 books are sold at $8 each unit, and 16 clothes are sold at $40 each unit. If the price of book was $5 and the price of cloth was $40 in 2010, the base year, what is the economic growth rate in 2020? What is the percentage change in GDP deflator in 2020 compared with 2019?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Please help me these 3 question

1) Suppose GDP consists of book and clothes. In 2020, 200 books are sold at $8 each unit, and 20 clothes
are sold at $50 each unit. In 2019, 180 books are sold at $8 each unit, and 16 clothes are sold at $40
each unit. If the price of book was $5 and the price of cloth was $40 in 2010, the base year, what is the
economic growth rate in 2020? What is the percentage change in GDP deflator in 2020 compared
with 2019?
2) Suppose that the typical consumer basket consists of 100 books and 20 clothes and the base year is
2020. What is the inflation rate in 2020?
Price of book
Price of Clothes
year
2019
$10
$45
2020
$12
$50
3) A car salesperson gives you four alternative ways to pay for your car. The first is to pay $18,000
today. The second is to pay $19,000 one year from today. The third is to pay $20,300 two years from
today. The fourth is to pay $21,500 three years from today. If the interest rate is 6 percent, which
payment option should you make a choice?

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