1-If a country has a higher level of productivity than another, then it also has a higher level of real GDP.Select one:a. Falseb. True 2-- The following information relating to green economy: 2013(base yr)20142015 PQPQPQMilk$1100$1200$2200Honey$250$2100$4100 - Based on the previous information, (after calculating Nominal GDP, Real GDP, and GDP Deflator for the years 2013,2014 and 2015), the Inflation rate in 2015 equal: Select one:a. 85%b. 90%c. 80%d. 100%

GDP is defined as the value of final goods and services produced in an economy over a given period…

Answered: If a country has a higher level of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If a country has a higher level of productivity than another, then it also has a higher level of real GDP.

Select one:

a. False

b. True

- The following information relating to green economy:

	2013(base yr)	2014	2015
	P	Q	P	Q	P	Q
Milk	$1	100	$1	200	$2	200
Honey	$2	50	$2	100	$4	100

- Based on the previous information, (after calculating Nominal GDP, Real GDP, and GDP Deflator for the years 2013,2014 and 2015), the Inflation rate in 2015 equal:

Select one:

a. 85%

b. 90%

c. 80%

d. 100%

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