Papayas Price (2015, base Quantity (2015, year) base year) $12 Watermelon $24 3.74% 1.95% 2.27% 1.24% 1600 400 Price (2019) $26 $18 Quantity (2019) 1300 1200 Consider the table above. Assume that there are only two goods produced in this economy: Papayas and watermelon. If the GDP deflator for 2018 was 122 then the rate of inflation between 2018 and 2019 was:
Papayas Price (2015, base Quantity (2015, year) base year) $12 Watermelon $24 3.74% 1.95% 2.27% 1.24% 1600 400 Price (2019) $26 $18 Quantity (2019) 1300 1200 Consider the table above. Assume that there are only two goods produced in this economy: Papayas and watermelon. If the GDP deflator for 2018 was 122 then the rate of inflation between 2018 and 2019 was:
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 7QR
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