Solve this!!! 18.If nominal GDP is $5 million and the real GDP is $4 million, what is the GDPdeflator?a 0.80b. 0.75C. 1.25-d. 0.20

GDP Deflator calculate the price level of all final goods and services which is domestically…

Answered: 18. If nominal GDP is $5 million and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q 100 200 300 400 500 44₁ 1 600 35 700 44 800 53 900 62 1000 „71 1100 80 1200 89 1300 98 O $68 SRATC, SRATC₂ SRATC, 80 90 130 71 78 116 62 66 102 53 54 88 42 74 60 48 31 38 45 52 59 66 O $53 Use the information in the Table above to answer the following question. The LRATC for Q = 900 is 38 units O $38 6 None of these answers is correct 30 68 units 18 32 44 56 68 80 92 SRATC4 140 131 122 113 104 95 86 77 68- 59 50 52 54 O not enough information to calculate

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18. If nominal GDP is $5 million and the real GDP is $4 million, what is the GDP deflator? a 0.80 b. 0.75 C. 125 d. 0.20