Good Price Year 1 Number of Goods Year 1 Nominal Value of Goods Year 1 Real Value of Goods Year 2 Price Year 2 Number of Goods Year 2 Nominal Value of Goods Year 2 Real Value of Goods Year 2 Price Year 3 Number of Goods Year 3 Nominal Value of Goods Year 3 Real Value of Goods Year 3 Quarts of Ice Cream $4.00 3 $___ $___ $4.00 5 $_____ $___ $5.00 3 $ _____ $ _______ Bottles of Shampoo $3.00 1 $___ $____ $3.00 2 $_____ $___ $4.00 1 $_____ $_______- Jars of Peanut Butter $2.00 3 $___ $____ $2.00 2 $_____ $___ $3.00 3 $_____ $________ Nominal GDP NA NA $___ NA NA NA $_____ NA NA NA $_____ NA Real GDP NA NA NA $_____ NA NA NA $___ NA NA NA $_____ GDP Price Index 100 NA NA NA _____ NA NA NA ____ NA NA NA
Good Price Year 1 Number of Goods Year 1 Nominal Value of Goods Year 1 Real Value of Goods Year 2 Price Year 2 Number of Goods Year 2 Nominal Value of Goods Year 2 Real Value of Goods Year 2 Price Year 3 Number of Goods Year 3 Nominal Value of Goods Year 3 Real Value of Goods Year 3 Quarts of Ice Cream $4.00 3 $___ $___ $4.00 5 $_____ $___ $5.00 3 $ _____ $ _______ Bottles of Shampoo $3.00 1 $___ $____ $3.00 2 $_____ $___ $4.00 1 $_____ $_______- Jars of Peanut Butter $2.00 3 $___ $____ $2.00 2 $_____ $___ $3.00 3 $_____ $________ Nominal GDP NA NA $___ NA NA NA $_____ NA NA NA $_____ NA Real GDP NA NA NA $_____ NA NA NA $___ NA NA NA $_____ GDP Price Index 100 NA NA NA _____ NA NA NA ____ NA NA NA
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Table 1.
|
Good |
|
Number of Goods Year 1 |
Nominal Value of Goods Year 1 |
Real Value of Goods Year 2 |
Price Year 2 |
Number of Goods Year 2 |
Nominal Value of Goods Year 2 |
Real Value of Goods Year 2 |
Price Year 3 |
Number of Goods Year 3 |
Nominal Value of Goods Year 3 |
Real Value of Goods Year 3 |
|
Quarts of Ice Cream |
$4.00 |
3 |
$___ |
$___
|
$4.00 |
5 |
$_____ |
$___ |
$5.00 |
3 |
$ _____ |
$ _______ |
|
Bottles of Shampoo |
$3.00 |
1 |
$___ |
$____
|
$3.00 |
2 |
$_____ |
$___ |
$4.00 |
1 |
$_____ |
$_______- |
|
Jars of Peanut Butter |
$2.00 |
3 |
$___ |
$____
|
$2.00 |
2 |
$_____ |
$___ |
$3.00 |
3 |
$_____ |
$________ |
|
Nominal GDP |
NA |
NA |
$___ |
NA
|
NA |
NA |
$_____
|
NA |
NA |
NA |
$_____ |
NA |
|
Real GDP |
NA |
NA |
NA |
$_____
|
NA |
NA |
NA |
$___ |
NA |
NA |
NA |
$_____ |
|
GDP Price Index |
100 |
NA |
NA |
NA |
_____ |
NA |
NA |
NA |
____ |
NA |
NA |
NA |
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