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Table 1 Product MP3s Tacos Coats 2009 Quantity 40 2,000 300 Price $250.00 2.00 50.00 2012 Quantity 45 2,200 310 Price $200.00 2.25 52.00 Quantity 50 2,300 350 2013 Price $150.00 2.40 55.00 1. Refer to Table 1. Consider the data above for a simple economy: Using 2009 as the base year calculate nominal GDP, real GDP, and the GDP deflator for all three years. Calculate also growth and inflation for these year

Table 1 Product MP3s Tacos Coats 2009 Quantity 40 2,000 300 Price $250.00 2.00 50.00 2012 Quantity 45 2,200 310 Price $200.00 2.25 52.00 Quantity 50 2,300 350 2013 Price $150.00 2.40 55.00 1. Refer to Table 1. Consider the data above for a simple economy: Using 2009 as the base year calculate nominal GDP, real GDP, and the GDP deflator for all three years. Calculate also growth and inflation for these year

Economics:
Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter10: Income And Expenditures Equilibrium
Section: Chapter Questions
Problem 9E
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Table 1 Product MP3s Tacos Coats 2009 Quantity 40 2,000 300 Price $250.00 2.00 50.00 2012 Quantity 45 2,200 310 Price $200.00 2.25 52.00 Quantity 50 2,300 350 2013 Price $150.00 2.40 55.00 1. Refer to Table 1. Consider the data above for a simple economy: Using 2009 as the base year calculate nominal GDP, real GDP, and the GDP deflator for all three years. Calculate also growth and inflation for these year
Transcribed Image Text:Table 1 Product MP3s Tacos Coats 2009 Quantity 40 2,000 300 Price $250.00 2.00 50.00 2012 Quantity 45 2,200 310 Price $200.00 2.25 52.00 Quantity 50 2,300 350 2013 Price $150.00 2.40 55.00 1. Refer to Table 1. Consider the data above for a simple economy: Using 2009 as the base year calculate nominal GDP, real GDP, and the GDP deflator for all three years. Calculate also growth and inflation for these year
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