Production Prices Year1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 60 80 100 $1.00 $1.00 $1.40 Good Y 100 110 130 $0.80 $0.90 $1.00 Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is Select one: Oa. 100 O b. 179 О с. 106.5 O d. 93.9
Production Prices Year1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 60 80 100 $1.00 $1.00 $1.40 Good Y 100 110 130 $0.80 $0.90 $1.00 Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is Select one: Oa. 100 O b. 179 О с. 106.5 O d. 93.9
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Production
Prices
Year1 Year 2 Year 3
Year 1 Year 2 Year 3
Good X
60 80
100
$1.00 $1.00 $1.40
Good Y
100 110
130
$0.80 $0.90 $1.00
Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base
year, the value for this economy's GDP deflator in year 2 is
Select one:
О а.
100
O b. 179
O c. 106.5
O d. 93.9](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42c6b28b-a5e5-40a9-95eb-ef9e8c8d2867%2Ff16c0cac-e1d2-41be-8ad6-0e19c82013ca%2F0s8zn1t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Production
Prices
Year1 Year 2 Year 3
Year 1 Year 2 Year 3
Good X
60 80
100
$1.00 $1.00 $1.40
Good Y
100 110
130
$0.80 $0.90 $1.00
Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base
year, the value for this economy's GDP deflator in year 2 is
Select one:
О а.
100
O b. 179
O c. 106.5
O d. 93.9
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