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
Chapter1: Introducing The Economic Way Of Thinking
Section1.A: Applying Graphics To Economics
Problem 2SQP
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Please solve#6 only ASAP.
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11dbc24e-283a-436e-afcc-c1a5b961194d%2Ffd2f04a4-4333-48c4-a155-701e96ae0f8c%2F4sgb21c_processed.jpeg&w=3840&q=75)
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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