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

See similar textbooks

Similar questions

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
Table 5-2 Price of Magazines Quantity of Magazines 180 200 200 $2.00 $2.50 $3.50 Year Price of Burgers Quantity of Burgers 2017 $4.00 100 2018 $5.00 120 2019 $6.00 150 Refer to Table 5-2. Using the GDP deflator to measure the average level of prices and using 2017 as the base year, what is the economy's inflation rate? O a. 20 percent for 2018 and 30 percent for 2019 O b. 44.7 percent for 2018 and 45.5 percent for 2019 O c.25 percent for 2018 and 28 percent for 2019 O d. 20 percent for 2018 and 12.5 percent for 2019 6489a31#
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.
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.
Typed plzzz and Asap
The seasonally adjusted data below depict the performance of the economy of the United States in five quarters of 1953-1954. Year/Quarter 1953/Q4 1954/Q1 1954/02 1954/Q3 1954/04 Select one: OA. 1953/04. Annual Percent Change Nominal GDP OB. 1954/01 O C. 1954/02. O D. 1954/03. QE. 1954/04. -5.2 -0.6 0.8 5.1 9.2 Real GDP in the United States was lowest in which of the following quarters? Annual Percent Change Real GDP -5.9 -1.9 0.4 4.6 8.1
3. Suppose an economy has two years worth of data, years 1 and 2. Sup- pose there are also two goods, bread and corn. Suppose, in year one, 30 units of corn are sold at a price of 1 $ and 20 units of bread are sold at a price of 2 S. Suppose in year two, 60 units of corn are sold at a price of 1.5 $ and 80 units of bread are sold at a price of 4 $. Compute nominal GDP in both periods. Compute real GDP under both defini tions of a base year. Compute also a chain weighted real GDP series. For all three measures, compute the GDP deflator
H10.
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

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

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%