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The table below represents the goods that are produced in Surrrey. Bread and water are used by the citizens of the city. Half of all plows are used by the city council, while the rest are used by citizens. Metal is used to produce plows and nothing more. When necessary, use 2013 as the base year. The typical consumer buys 10 bread, 100 water, and 2 plows. Use this table for questions 2-9. Bread Water Plows Metal Price Quantity $2 $3 $3 $5 Price Quantity $1 $1 $1 $2 Price Quantity 1000 $150 1100 $200 1100 $200 1100 $210 Price Quantity $43 $44 2011 100 60 800 2012 110 70 875 2013 120 70 $46 900 2014 120 40 $49 934

The table below represents the goods that are produced in Surrrey. Bread and water are used by the citizens of the city. Half of all plows are used by the city council, while the rest are used by citizens. Metal is used to produce plows and nothing more. When necessary, use 2013 as the base year. The typical consumer buys 10 bread, 100 water, and 2 plows. Use this table for questions 2-9. Bread Water Plows Metal Price Quantity $2 $3 $3 $5 Price Quantity $1 $1 $1 $2 Price Quantity 1000 $150 1100 $200 1100 $200 1100 $210 Price Quantity $43 $44 2011 100 60 800 2012 110 70 875 2013 120 70 $46 900 2014 120 40 $49 934

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The table below represents the goods that are produced in Surrrey. Bread and water are used by the citizens of the city. Half of all plows are used by the city council, while the rest are used by citizens. Metal is used to produce plows and nothing more. When necessary, use 2013 as the base year. The typical consumer buys 10 bread, 100 water, and 2 plows. Use this table for questions 2-9. Bread Water Plows Metal Price Quantity 1000 $150 1100 $200 1100 $200 Price Quantity $43 $44 $46 $49 Price Price Quantity Quantity $2 $3 $3 $5 2011 100 $1 60 800 2012 110 $1 70 875 2013 120 $1 70 900 2014 120 $2 1100 $210 40 934 2. Calculate Real GDP for all years. 3. Calculate GDP deflator for all years. 4. Calculate the GDP growth rate for all adjacent years. 5. Calculate the basket costs for all years. 6. Calculate CPI for all years.
Transcribed Image Text:The table below represents the goods that are produced in Surrrey. Bread and water are used by the citizens of the city. Half of all plows are used by the city council, while the rest are used by citizens. Metal is used to produce plows and nothing more. When necessary, use 2013 as the base year. The typical consumer buys 10 bread, 100 water, and 2 plows. Use this table for questions 2-9. Bread Water Plows Metal Price Quantity 1000 $150 1100 $200 1100 $200 Price Quantity $43 $44 $46 $49 Price Price Quantity Quantity $2 $3 $3 $5 2011 100 $1 60 800 2012 110 $1 70 875 2013 120 $1 70 900 2014 120 $2 1100 $210 40 934 2. Calculate Real GDP for all years. 3. Calculate GDP deflator for all years. 4. Calculate the GDP growth rate for all adjacent years. 5. Calculate the basket costs for all years. 6. Calculate CPI for all years.
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