2021 2022 Quantity of pistachios 900 1,100 Quantity of video games 500 400 Price of pistachios $2.00 $1.50 Price of video games $15.00 $16 Using the Laspeyres index, the percent change in real GDP from 2021 to 2022 will be about ________ percent. 12 6 0 -6 -12
2021 2022 Quantity of pistachios 900 1,100 Quantity of video games 500 400 Price of pistachios $2.00 $1.50 Price of video games $15.00 $16 Using the Laspeyres index, the percent change in real GDP from 2021 to 2022 will be about ________ percent. 12 6 0 -6 -12
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 6SCQ: The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the...
Related questions
Question
|
2021 |
2022 |
Quantity of pistachios |
900 |
1,100 |
Quantity of video games |
500 |
400 |
|
$2.00 |
$1.50 |
Price of video games |
$15.00 |
$16 |
Using the Laspeyres index, the percent change in real GDP from 2021 to 2022 will be about ________ percent.
12 |
||
6 |
||
0 |
||
-6 |
||
-12 |
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