I want to solve the remainder of branches 4, 5, 6, and 7 Given the following table:ProductionYear 1 Year 2 Year 350PricesGood X 50Good Y 100Year 1 Year 2 Year 3$1.20$0.60$1.20$1.0060$100120140$0.601- Assume that this economy produces only two goods Good X and GoodY. The value for this economy's nominal GDP in year 1 is2- Assume that this economy produces only two goods Good X and GoodY. The value for this economy's nominal GDP in year 3 is3- Assume that this economy produces only two goods Good X and GoodY. The value for this economy's nominal GDP in year 2 is4- Assume that this economy produces only two goods Good X and GoodY. If year 1 is the base year, the value for this economy's real GDP in year2 is5- Assume that this economy produces only two goods Good X and GoodY. If year 1 is the base year, the value for this economy's GDP deflator inyear 1 is6- Assume that this economy produces only two goods Good X and GoodY. If year 1 is the base year, the value for this economy's GDP deflator inyear 2 is7- Assume that this economy produces only two goods Good X and GoodY. If year 2 is the base year, the value for this economy's real GDP in year3 is

( I am going to answer only 4,5,6 and 7 because it is stated by student.) Economy Real GDP in year…

4- Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's real GDP in year 2 is 5- Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is 6- Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is 7- Assume that this economy produces only two goods Good X and Good Y. If year 2 is the base year, the value for this economy's real GDP in year 3 is

4- Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's real GDP in year 2 is 5- Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is 6- Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is 7- Assume that this economy produces only two goods Good X and Good Y. If year 2 is the base year, the value for this economy's real GDP in year 3 is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I want to solve the remainder of branches 4, 5, 6, and 7

Given the following table:
Production
Year 1 Year 2 Year 3
50
Prices
Good X 50
Good Y 100
Year 1 Year 2 Year 3
$1.20
$0.60
$1.20
$1.00
60
$100
120
140
$0.60
1- Assume that this economy produces only two goods Good X and Good
Y. The value for this economy's nominal GDP in year 1 is
2- Assume that this economy produces only two goods Good X and Good
Y. The value for this economy's nominal GDP in year 3 is
3- Assume that this economy produces only two goods Good X and Good
Y. The value for this economy's nominal GDP in year 2 is
4- Assume that this economy produces only two goods Good X and Good
Y. If year 1 is the base year, the value for this economy's real GDP in year
2 is
5- Assume that this economy produces only two goods Good X and Good
Y. If year 1 is the base year, the value for this economy's GDP deflator in
year 1 is
6- Assume that this economy produces only two goods Good X and Good
Y. If year 1 is the base year, the value for this economy's GDP deflator in
year 2 is
7- Assume that this economy produces only two goods Good X and Good
Y. If year 2 is the base year, the value for this economy's real GDP in year
3 is

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