Question 3 Given the following data for each year, show all your calculations for: a. Nominal GDP b. Real GDP c. The Consumer Price Index, using Year 1 as the base year d. The rate of inflation from Year 1 to Year 2, and from Year 2 to Year 3. Year QUANTITY pizza PRICE pizza QUANTITY burgers PRICE burgers 1. 200 $10 100 $12 300 $15 150 $14 400 $20 250 $16 2. 3.

Question 3 Given the following data for each year, show all your calculations for: a. Nominal GDP b. Real GDP c. The Consumer Price Index, using Year 1 as the base year d. The rate of inflation from Year 1 to Year 2, and from Year 2 to Year 3. Year QUANTITY pizza PRICE pizza QUANTITY burgers PRICE burgers 1. 200 $10 100 $12 300 $15 150 $14 400 $20 250 $16 2. 3.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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