Imagine that a hypothetical economy produces three items food, clothes and Aluminum and a typical consumer buys food and clothing only. The table below shows the hypothetical results. Item Food Price/unit (2009) Tk. 5 Qty (2009) 100 Price/unit (2008) Tk. 20 Clothes Tk. 100 5 Tk. 400 Aluminum Tk. 200 2 Tk. 800 Base year: 2008 Question Qty (2008) 400 20 80 a) Calculate GDP Deflator of 2009. b) Calculate the Growth rate of real GDP of 2009.

Imagine that a hypothetical economy produces three items food, clothes and Aluminum and a typical consumer buys food and clothing only. The table below shows the hypothetical results. Item Food Price/unit (2009) Tk. 5 Qty (2009) 100 Price/unit (2008) Tk. 20 Clothes Tk. 100 5 Tk. 400 Aluminum Tk. 200 2 Tk. 800 Base year: 2008 Question Qty (2008) 400 20 80 a) Calculate GDP Deflator of 2009. b) Calculate the Growth rate of real GDP of 2009.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 1.1P

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