Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: (B) (A) (C) Price Level Real GDP Price Level Real GDP Price Level Real GDP 110 240 110 290 100 215 100 100 265 100 240 240 95 240 95 240 100 265 90 240 90 215 100 290 b. Assuming no change in hours of work, if real output per hour of work decreases by 15 percent, what will be the new levels of real GDP in the right column of B? Instructions: Round your answers to 2 decimal places. With a price level of 110, new output With a price level of 100, new output With a price level of 95, new output With a price level of 90, new output
Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: (B) (A) (C) Price Level Real GDP Price Level Real GDP Price Level Real GDP 110 240 110 290 100 215 100 100 265 100 240 240 95 240 95 240 100 265 90 240 90 215 100 290 b. Assuming no change in hours of work, if real output per hour of work decreases by 15 percent, what will be the new levels of real GDP in the right column of B? Instructions: Round your answers to 2 decimal places. With a price level of 110, new output With a price level of 100, new output With a price level of 95, new output With a price level of 90, new output
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Answer the following questions on the basis of the three sets of data for the country of North Vaudeville:
(B)
(A)
(C)
Price Level
Real GDP
Price Level
Real GDP
Price Level
Real GDP
110
240
110
290
100
215
100
100
265
100
240
240
95
240
95
240
100
265
90
240
90
215
100
290
Transcribed Image Text:b. Assuming no change in hours of work, if real output per hour of work decreases by 15 percent, what will be the new levels
of real GDP in the right column of B?
Instructions: Round your answers to 2 decimal places.
With a price level of 110, new output
With a price level of 100, new output
With a price level of 95, new output
With a price level of 90, new output
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