Answer questions 12-13 based on the following data for a hypothetical economy. The base year for the GDP deflator is 1992 and it equaled 100 that year. Year Nom. GDP (billion) Price index 1993 $4,200 120 1994 $4,300 125 1995 $4,680 130 1996 $4,958 134 From 1992 to 1996, price rose by approximately O a. 5 percent. O b.9 percent. O 14 percent. d. 24 percent. e. 34 percent.

Answer questions 12-13 based on the following data for a hypothetical economy. The base year for the GDP deflator is 1992 and it equaled 100 that year. Year Nom. GDP (billion) Price index 1993 $4,200 120 1994 $4,300 125 1995 $4,680 130 1996 $4,958 134 From 1992 to 1996, price rose by approximately O a. 5 percent. O b.9 percent. O 14 percent. d. 24 percent. e. 34 percent.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that nominal GDP per person is €18,000 in 2013, the 2005 GDP deflator is 100, and the 2013 GDP deflator is 110. The approximate real per person GDP in 2013 is O €16,364. O €19,800. O €18,000. O €16,634.
The CPI is more commonly used as a gauge of inflation than the GDP deflator is becaust the O a. GDP deflator cannot be used to gauge inflation. O b. CPI is easier to measure. O c. CPI better reflects the goods and services bought by consumers. O d. CPI includes more goods and services that the GDP deflator does. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.