Year Website A GDP Website B GDP $50 million = P1980 Q1980 600 million = P2020*Q2020 1980 $200 million = P2020*Q1980 $600 million = P2020 * Q2020 2020 • Website B real GDP o Production how many'times higher in 2020? >3 times higher o Prices how many times higher in 2020? >4 times higher

Year Website A GDP Website B GDP $50 million = P1980 Q1980 600 million = P2020Q2020 1980 $200 million = P2020Q1980 $600 million = P2020 * Q2020 2020 • Website B real GDP o Production how many'times higher in 2020? >3 times higher o Prices how many times higher in 2020? >4 times higher

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

please help this I don't understand how to find out for example how many times higher please explain detail this

Problem Five Solution
Year
Website A GDP
Website B GDP
$50 million = P1980 Q1980
600 million = P2020*Q2020
1980
$200 million = P2020*Q1980
2020
$600 million = P2020 Q2020
• Website B real GDP
o Production how many'times higher in 2020?
>3 times higher
o Prices how many times higher in 2020?
>4 times higher

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