Assume that the Netherlands makes only 2 goods; Gouda cheese and stroopwafels. In 2018, they sold 10 units of Gouda cheese at $10 and 10 units of stroopwafels at $2. In 2019, the price of Gouda cheese is $15 and the price of stroopwafels is $4. The year 2019 is selected as the base year. In 2018, the GDP deflator is _.
Assume that the Netherlands makes only 2 goods; Gouda cheese and stroopwafels. In 2018, they sold 10 units of Gouda cheese at $10 and 10 units of stroopwafels at $2. In 2019, the price of Gouda cheese is $15 and the price of stroopwafels is $4. The year 2019 is selected as the base year. In 2018, the GDP deflator is _.
Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter10: Measuring A Nation's Income
Section: Chapter Questions
Problem 9PA
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9, Assume that the Netherlands makes only 2 goods; Gouda cheese and stroopwafels. In 2018, they sold 10 units of Gouda cheese at $10 and 10 units of stroopwafels at $2. In 2019, the price of Gouda cheese is $15 and the price of stroopwafels is $4. The year 2019 is selected as the base year. In 2018, the
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