Production Year1 Year 2 Year 3 Good X 50 50 60 Good Y 100 120 140 Select one: 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 a. 92.4 Prices O b. 105 C. 84.5 O d. 108.2 Year 1 Year 2 Year $1.00 $1.20 $1.20 $0.60 $0.60 $1.00

Production Year1 Year 2 Year 3 Good X 50 50 60 Good Y 100 120 140 Select one: 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 a. 92.4 Prices O b. 105 C. 84.5 O d. 108.2 Year 1 Year 2 Year $1.00 $1.20 $1.20 $0.60 $0.60 $1.00

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 8QR

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