EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 8, Problem 5P
Subpart (a):
To determine
The value of gains and losses in utility.
Subpart (b):
To determine
The value of gains and losses in utility.
Subpart (c):
To determine
The value of gains and losses in utility.
Subpart (d):
To determine
The value of gains and losses in utility.
Subpart (e):
To determine
The value of gains and losses in utility.
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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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