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15. What is the GDP Deflator for Year 2? a. 105 b. 135 c. 136 d. 142 e. 143

15. What is the GDP Deflator for Year 2? a. 105 b. 135 c. 136 d. 142 e. 143

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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**Table Information for GDP Calculation** The table below provides data for a hypothetical economy that produces only apples and oranges. It is used to calculate the GDP Deflator for Year 2, assuming Year 1 is the base year. | | Year 1 | Year 2 | |------------------|--------|--------| | Quantity of Apples | 3,000 | 4,000 | | Price of Apples | $0.20 | $0.30 | | Quantity of Oranges| 2,000 | 3,000 | | Price of Oranges | $0.40 | $0.50 | **Question 15: GDP Deflator Calculation** What is the GDP Deflator for Year 2? Options: a. 105 b. 135 c. 136 d. 142 e. 143
Transcribed Image Text:**Table Information for GDP Calculation** The table below provides data for a hypothetical economy that produces only apples and oranges. It is used to calculate the GDP Deflator for Year 2, assuming Year 1 is the base year. | | Year 1 | Year 2 | |------------------|--------|--------| | Quantity of Apples | 3,000 | 4,000 | | Price of Apples | $0.20 | $0.30 | | Quantity of Oranges| 2,000 | 3,000 | | Price of Oranges | $0.40 | $0.50 | **Question 15: GDP Deflator Calculation** What is the GDP Deflator for Year 2? Options: a. 105 b. 135 c. 136 d. 142 e. 143
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