Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is

Brief Principles of Macroeconomics (MindTap Course List)
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Chapter5: Measuring A Nation's Income
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G4

Production
Year1 Year 2 Year 3
Good X
50 50 60
Good Y 100 120 140
Select one:
Assume that this economy produces only two goods Good X and Good Y. If year 1
is the base year, the value for this economy's GDP deflator in year 2 is
a. 92.4
Prices
O b. 105
C. 84.5
O d. 108.2
Year 1 Year 2 Year
$1.00 $1.20 $1.20
$0.60 $0.60 $1.00
Transcribed Image Text:Production Year1 Year 2 Year 3 Good X 50 50 60 Good Y 100 120 140 Select one: Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is a. 92.4 Prices O b. 105 C. 84.5 O d. 108.2 Year 1 Year 2 Year $1.00 $1.20 $1.20 $0.60 $0.60 $1.00
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