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There are two industries in this economy, producing product A and product B. Provided in the table below are the quantities produced and the price per unit for 3 different years. Considering Year 1 as the base year, fill in the blanks in the following table. Note: For the GDP Deflator entries, please round all answers to 1 decimal place. Year 1 Year 2 Year 3 19 Quantity of A (units) 17 25 Quantity of B (units) 19 24 24 7 10 8 Price of A ($/unit) Price of B ($/unit) 8 6 Nominal output value of A ($) 0 0 0 0 Nominal output value of B ($) otal nominal economy output ($) 0 0 Real output value of A ($) 0 0 Real output value of B ($) 0 0 otal real economy output ($) 0 0 DP deflator 0 0 5 0 0 0 0 0 0 0

There are two industries in this economy, producing product A and product B. Provided in the table below are the quantities produced and the price per unit for 3 different years. Considering Year 1 as the base year, fill in the blanks in the following table. Note: For the GDP Deflator entries, please round all answers to 1 decimal place. Year 1 Year 2 Year 3 19 Quantity of A (units) 17 25 Quantity of B (units) 19 24 24 7 10 8 Price of A ($/unit) Price of B ($/unit) 8 6 Nominal output value of A ($) 0 0 0 0 Nominal output value of B ($) otal nominal economy output ($) 0 0 Real output value of A ($) 0 0 Real output value of B ($) 0 0 otal real economy output ($) 0 0 DP deflator 0 0 5 0 0 0 0 0 0 0

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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There are two industries in this economy, producing product A and product B. Provided in the table below are the quantities produced and the price per unit for 3 different years. Considering Year 1 as the base year, fill in the blanks in the following table. Note: For the GDP Deflator entries, please round all answers to 1 decimal place. Year 1 Year 2 Year 3 Quantity of A (units) 17 25 19 Quantity of B (units) 19 24 24 Price of A (S/unit) 7 10 8 Price of B ($/unit) 8 6 5 Nominal output value of A ($) 0 0 0 0 0 0 Nominal output value of B ($) Total nominal economy output ($) 0 0 0 Real output value of A ($) 0 0 0 0 Real output value of B ($) Total real economy output ($) GDP deflator 0 0 Oooo 0 0 0 0 0 0
Transcribed Image Text:There are two industries in this economy, producing product A and product B. Provided in the table below are the quantities produced and the price per unit for 3 different years. Considering Year 1 as the base year, fill in the blanks in the following table. Note: For the GDP Deflator entries, please round all answers to 1 decimal place. Year 1 Year 2 Year 3 Quantity of A (units) 17 25 19 Quantity of B (units) 19 24 24 Price of A (S/unit) 7 10 8 Price of B ($/unit) 8 6 5 Nominal output value of A ($) 0 0 0 0 0 0 Nominal output value of B ($) Total nominal economy output ($) 0 0 0 Real output value of A ($) 0 0 0 0 Real output value of B ($) Total real economy output ($) GDP deflator 0 0 Oooo 0 0 0 0 0 0
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