PRINCIPLES OF MACROECONOMICS (LL)W/ACC.
7th Edition
ISBN: 9781264088980
Author: Frank
Publisher: MCG
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Question
Chapter 17, Problem 3P
To determine
Identify the percentage change from last year to this year in the nominal and real exchange rates between blue land and red land.
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Active Learning 4: Computing GDP
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2021
(base year)
2022
2023
P
Q
P
Q
P
Q
$1 900
$2 1,000
$3
1,250
200 $1,200
210
Smartphones $900 185 $1,000
Use the above data to solve these problems:
A. Compute nominal GDP in 2021.
B. Compute real GDP in 2022.
C. Compute the GDP deflator in 2023.
Mankiw, Principles of Macroeconomics, 10th Edition. 2024 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
34
=4
Chapter 17 Solutions
PRINCIPLES OF MACROECONOMICS (LL)W/ACC.
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