Use the data in the table to answer the question. Pineapples Coconuts Price 2 5 2016 Nominal GDP increased by $ between 2016 and 2017. Quantity 100 60 Price 4 4 2017 Quantity 125 75 According to the data in the table, by how much did nominal GDP change between 2016 and 2017? Assume that the given economy's GDP consists only of coconuts and pineapples.

Use the data in the table to answer the question. Pineapples Coconuts Price 2 5 2016 Nominal GDP increased by $ between 2016 and 2017. Quantity 100 60 Price 4 4 2017 Quantity 125 75 According to the data in the table, by how much did nominal GDP change between 2016 and 2017? Assume that the given economy's GDP consists only of coconuts and pineapples.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume that in Berberistan only three goods are produced: coffee, tea, and cheesecake. The table below shows the prices and quantities of the three goods in 2018, 2019 and 2020. (Take 2018 as the base year when necessary) 2018 2019 2020Quantity price quantity Price quantity PriceCoffee 2 20 6 10 5 12Tea 20 2 20 2 25 3Cheesecake 15 8 10 10 15 5a) What is the nominal GDP in 2019. b) What is the nominal GDP in 2020. c) What is the real GDP in 2019.d) What is the real GDP in 2020.e) What is the real economic growth from 2019 to 2020.
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Question 7
V1
The country of Old Jersey produces milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon. Year 1 Year 2 Good Quantity Price Quantity Price Milk 500 $2 900 $3 Butter 2000 $1 3000 $2 Between Year 1 and Year 2, the GDP deflator (based on Year 1 as a base year) rose Select one: a. 123.00%. b. 83.33%. c. 60.00%. d. 81.25%.