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Chapter 2, Problem 5QAP

a)

To determine

The real GDP in the years 2009 and 2010 on the basis of the prices of the year 2009 and to further compute the rate of inflation between both these years.

b)

To determine

The real GDP in the year 2009 and in the year 2010 by keeping the base price of the year 2010 and further the rate of inflation between both the years.

c)

To determine

The reasons for the rates of GDP being different for the years 2009 and 2010 and to determine which among them is correct.

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Chapter 2 Solutions

Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)

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