EBK MACROECONOMICS (FOURTH EDITION)
4th Edition
ISBN: 9780393616125
Author: Jones
Publisher: YUZU
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Question
Chapter 8, Problem 2E
(a)
To determine
Calculating the inflation rate for the years 2021, 2022, 2023, and 2024.
(b)
To determine
Calculate the average annual inflation rate from 1980 to 2015.
(c)
To determine
Calculate the average annual inflation rate from 1970 to 1980 and from 1900 to 2015.
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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
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Chapter 8 Solutions
EBK MACROECONOMICS (FOURTH EDITION)
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