Bacon County, Georgia, an area that produces only two products: Pizza and Coke. Year Pizza Produced Price of Pizza Coke Produced Price of Coke 2007 100 4 400 1 2017 150 5 450 2 a. What is the GDP deflator in 2017, using 2007 as the base year ? 157.14 100 126.92 63.63 b. Real GDP for Bacon County for 2017 using 2007 as the base year equals 800 1,050 1,650 1,300
Bacon County, Georgia, an area that produces only two products: Pizza and Coke. Year Pizza Produced Price of Pizza Coke Produced Price of Coke 2007 100 4 400 1 2017 150 5 450 2 a. What is the GDP deflator in 2017, using 2007 as the base year ? 157.14 100 126.92 63.63 b. Real GDP for Bacon County for 2017 using 2007 as the base year equals 800 1,050 1,650 1,300
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter23: Measuring A Nation's Income
Section: Chapter Questions
Problem 4PA
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Pls answer part a and b
Bacon County, Georgia, an area that produces only two products: Pizza and Coke.
Year |
Pizza Produced |
Price of Pizza |
Coke Produced |
Price of Coke |
2007 |
100 |
4 |
400 |
1 |
2017 |
150 |
5 |
450 |
2 |
a. What is the
157.14
100
126.92
63.63
b. Real GDP for Bacon County for 2017 using 2007 as the base year equals
800
1,050
1,650
1,300
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