Given the information in the table below, what is country A's real aggregate product in B$ at constant purchasing.power of year 2 for years 1, 2, and 3 respectively? Remember: step 1, make sure that the general price index has the correct base year; step 2, transform the nominal aggregate- product in AS into the real aggregate product in A$ using the correct general price index; and step 3, transform the real aggregate product in AS into the real aggregate product in B$ using the correct exchange rate (and pay attention that exchanges rates are BS/AS, so you may need to use division or multiplication). Year 1 Year 2 Year 3 Country A's nominal aggregate product in the local currency A$. A$1000 A$1500 A$1800 Country A's general price index. 1.000 1.250 1.200 Country B's nominal aggregate product in the local currency BS. B$2160 B$2592 "B$3888 Country B's general price index. 0.500 0.625 1.000 Market exchange rate (BS/AS). 1.00 1.20 1.35 PPP exchange rate (B$/AS). 1.50 1.80 2.00

Given the information in the table below, what is country A's real aggregate product in B$ at constant purchasing.power of year 2 for years 1, 2, and 3 respectively? Remember: step 1, make sure that the general price index has the correct base year; step 2, transform the nominal aggregate- product in AS into the real aggregate product in A$ using the correct general price index; and step 3, transform the real aggregate product in AS into the real aggregate product in B$ using the correct exchange rate (and pay attention that exchanges rates are BS/AS, so you may need to use division or multiplication). Year 1 Year 2 Year 3 Country A's nominal aggregate product in the local currency A$. A$1000 A$1500 A$1800 Country A's general price index. 1.000 1.250 1.200 Country B's nominal aggregate product in the local currency BS. B$2160 B$2592 "B$3888 Country B's general price index. 0.500 0.625 1.000 Market exchange rate (BS/AS). 1.00 1.20 1.35 PPP exchange rate (B$/AS). 1.50 1.80 2.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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