Question 3The prices and quantities in 2010 and 2015 were as follows.2010: Good 1 $20/30 items; Good 2 $10/40 items.2015: Good 1 $10/40 items; Good 2 $30/20 items.Compute the 2015 GDP deflator using 2010 as the basis year.A. 0.5OB. 1.5C. 50%O D. 100%

The nominal GDP refers to the value of all the goods and services produced in a given fiscal year at…

Answered: Question 3 The prices and quantities in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Economics Use the table to answer the question 2015 Quantity Price Hotdogs 152 T-shirts 92 26 Toy cars 36 11 2016 Quantity Price Hotdogs 163 3 T-shirts 95 30 Toy cars 41 15 Refer to the table above. The table gives the quantities produced and prices in 2015 and 2016. What is chained-dollar real GDP of 2016 in 2015 dollars? O A. 3760.62 О В. 3251 O C. 3820.32 O D. 3342.17 O E. None of the above
Additions to inventory O a. Add to next year's GDP when goods are actually sold O b. Add to current year's GDP O C.Are prices at zero since they have not been sold O d. Are simply intoned while calculating GDP
Real GDP is best described as: A measure of a nation's output and employment holding wages constant. A measure of a nation's output holding prices constant. A measure of a nation's output at the current level of prices. OOOO. A measure of a nation's prices holding output constant. A measure of a nation's prices at the current level of output. A Moving to the next question prevents changes to this answer. E JUL 19 tv 10 O A
The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2011. Prices and Quantities Year 2010 2011 2012 2013 57.9. O 100.0. O 127.8. Price of Waffles O 171.4. $2.00 $2.00 $2.00 $4.00 Quantity of Waffles 80 In 2012, this country's GDP deflator was 100 120 150 Price of Pancakes $1.00 $2.00 $3.00 $3.00 Quantity of Pancakes 100 120 150 200
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An American retailer purchased 100 pairs of shoes from a company in Mexico in the second quarter of 2016 but does not sell them to a consumer until the third quarter of 2016. In which quarter(s) does(do) the value of the shoes add to U.S. GDP? O the third but not the second quarter O the second quarter but not the third quarter O the second and third quarters O neither the second nor the third quarter Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Calculate GDP using the information in the table below: SBillion Durable goods 500 Nonresidential investment 300 Government purchase of goods 400 Exports 300 Government purchases of services 150 Residential investment 100 Services 700 Imports 200 Change in business inventories -50 Nondurable goods 700 Select one: O a. 2900 O b. 2500 Oc 1950 O d. 2750
Q9
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. Product Shoes Hamburgers Shirts Cotton 2009, then the nominal GDP for 2017 equals: O 18672.5 O 8250 O8750 2009 Statistics Quantity 100 85 60 11,000 O 10422.5 Price $52.00 3.00 35.00 0.85 2016 Statistics Quantity 115 120 55 10,000 Price $65.00 3.00 30.00 0.70 2017 Statistics Quantity 110 135 75 11,000 Price $70.00 3.50 30.00 0.75 If the base year is the year
What is the nominal GDP in year 2 in University Town? Good Quantityyr1 Priceyrı Quantityy2 Priceyr2 ఇాా Food 1000 2 1500 3 Housing 200 10 300 15 Clothing 500 1000 10 2800 11000 19000 28000 LO
hand written plz please give me correct answer asap You live in Canada, and purchased a car manufactured in Japan this year from a dealer in Canada. The entire amount you spent on the car is in Canada's GDP because: O a. not included; the amount going into the dealer's pocket should be excluded. O b. included; you live here. O c. included; it was sold here. O d. not included; the amount going to the Japanese manufacturer should be excluded. O e. included; the car dealer is Canadian.
Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit Rice $3 13,500 Flour 17,000 Olive oil 5 2,500 Sugar 4 19,000 Salt 2 16,500 What is the GDP for this economy in 2017? Select one: O a. $262,000 O b. $175,000 O c. $196,000 O d. $233,800

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Question 3 The prices and quantities in 2010 and 2015 were as follows. 2010: Good 1 $20/30 items; Good 2 $10/40 items. 2015: Good 1 $10/40 items; Good 2 $30/20 items. Compute the 2015 GDP deflator using 2010 as the basis year. OA. 0.5 OB. 1.5 O C. 50% O D. 100%