EBK INTERNATIONAL ECONOMICS
7th Edition
ISBN: 9780134523866
Author: Gerber
Publisher: YUZU
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Chapter 4, Problem 5SQ
a)
To determine
Identify the variable and specific factors.
b)
To determine
Explain the exports of each countries.
(c)
To determine
Explain the effect of trade in the returns of land, labor, and capital in Countries U and C.
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Active Learning 4: Computing GDP
Cookies
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
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EBK INTERNATIONAL ECONOMICS
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