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:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter10: Income And Expenditures Equilibrium

Section: Chapter Questions

Problem 9E

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Question

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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

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