EBK MACROECONOMICS (FOURTH EDITION)
4th Edition
ISBN: 9780393616125
Author: Jones
Publisher: YUZU
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Question
Chapter 8, Problem 1E
(a)
To determine
Calculate the salary of the workers in 2015 in respect to the value in 1900.
(b)
To determine
Calculate the salary of a worker in 2015 in respect to the value in 1932.
(c)
To determine
Calculate the value in 2015 in respect to 1940s.
(d)
To determine
Calculate the value of product in 2015 in respect to the value in 1972.
(e)
To determine
The value of a movie ticket in 2015 in respect to the value in 1977.
(f)
To determine
Calculate the value of the good in respect to the value in 1991.
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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
=4
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Chapter 8 Solutions
EBK MACROECONOMICS (FOURTH EDITION)
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