Question 1 A tiny country only produces two goods: Computer and TV. The following table shows the prices and quantities of the two goods for 2000, 2001, and 2002. Using the given information, please find the Real GDP and GDP Deflator for 2001. (Base Year: 2000) Year 2000 2001 2002 A. 19800; 116.47 Price ($) 1000 1100 1300 Computer B. 16500; 100 Quantity 2 3 3 Price ($) 500 550 700 C. 18000; 110 TV Quantity 25 30 40 D. 18750; 130.75

Question 1 A tiny country only produces two goods: Computer and TV. The following table shows the prices and quantities of the two goods for 2000, 2001, and 2002. Using the given information, please find the Real GDP and GDP Deflator for 2001. (Base Year: 2000) Year 2000 2001 2002 A. 19800; 116.47 Price ($) 1000 1100 1300 Computer B. 16500; 100 Quantity 2 3 3 Price ($) 500 550 700 C. 18000; 110 TV Quantity 25 30 40 D. 18750; 130.75

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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