The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Year 2015 2016 2017 2018 Price of Cereal $4.00 $4.00 $5.00 $6.00 Quantity of Cereal 100 120 150 180 Refer to Table 23-5. In 2017, this country's Price of Milk $1.50 $2.00 $2.50 $3.50 O real GDP was $1250, and the GDP deflator was 138.9. O real GDP was $1250, and the GDP deflator was 128.0. O real GDP was $900, and the GDP deflator was 138.9. O real GDP was $900, and the GDP deflator was 128.0. Quantity of Milk 180 200 200 240

The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Year 2015 2016 2017 2018 Price of Cereal $4.00 $4.00 $5.00 $6.00 Quantity of Cereal 100 120 150 180 Refer to Table 23-5. In 2017, this country's Price of Milk $1.50 $2.00 $2.50 $3.50 O real GDP was $1250, and the GDP deflator was 138.9. O real GDP was $1250, and the GDP deflator was 128.0. O real GDP was $900, and the GDP deflator was 138.9. O real GDP was $900, and the GDP deflator was 128.0. Quantity of Milk 180 200 200 240

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base
year is 2015.
Prices and Quantities
Year
2015
2016
2017
2018
Price of Cereal
$4.00
$4.00
$5.00
$6.00
Quantity of
Cereal
100
120
150
180
Refer to Table 23-5. In 2017, this country's
Price of Milk
$1.50
$2.00
$2.50
$3.50
O real GDP was $1250, and the GDP deflator was 138.9.
O real GDP was $1250, and the GDP deflator was 128.0.
O real GDP was $900, and the GDP deflator was 138.9.
O real GDP was $900, and the GDP deflator was 128.0.
Quantity of
Milk
180
200
200
240

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2015 2016 2017 2018 2019 2020 Turnover (EUR) prices 174 163 181 861 176 536 176 529 169 827 173 429 197 257 204 506 199 875 199 543 183 490 179 457 169 149 175 418 170 834 171 818 185 012 183 610 200 967 208 672 202 404 203 424 199 495 190 476 204 436 196 741 201 863 206 704| 209 285 206 723 211 036 201 477| 212 904 217 541 214 309 220 946 2015 2016 2017 2018 2019 2020 The 3rd element of the base price index series standard weighted is Give their value with 4 decimals. Pay attention for the sequencing: in.case of a base index series the '1', in case of a chain index series the is considered the 0oth element of the relevant index series!!!