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Question 1 A tiny country only produces two goods: Computer and TV. The following table shows the prices and quantities of the two goods for 2000, 2001, and 2002. Using the given information, please find the Real GDP and GDP Deflator for 2001. (Base Year: 2000) Year 2000 2001 2002 A. 19800; 116.47 Price ($) 1000 1100 1300 Computer B. 16500; 100 Quantity 2 3 3 Price ($) 500 550 700 C. 18000; 110 TV Quantity 25 30 40 D. 18750; 130.75

Question 1 A tiny country only produces two goods: Computer and TV. The following table shows the prices and quantities of the two goods for 2000, 2001, and 2002. Using the given information, please find the Real GDP and GDP Deflator for 2001. (Base Year: 2000) Year 2000 2001 2002 A. 19800; 116.47 Price ($) 1000 1100 1300 Computer B. 16500; 100 Quantity 2 3 3 Price ($) 500 550 700 C. 18000; 110 TV Quantity 25 30 40 D. 18750; 130.75

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 28P: Last year, a small nation with abundant forests cut down 200 worth of trees. It then turned 100...
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Question 1 A tiny country only produces two goods: Computer and TV. The following table shows the prices and quantities of the two goods for 2000, 2001, and 2002. Using the given information, please find the Real GDP and GDP Deflator for 2001. (Base Year: 2000) Year 2000 2001 2002 A. 19800; 116.47 Price ($) 1000 1100 1300 Computer B. 16500; 100 Quantity 2 3 3 Price ($) 500 550 700 C. 18000; 110 TV Quantity 25 30 40 D. 18750; 130.75
Transcribed Image Text:Question 1 A tiny country only produces two goods: Computer and TV. The following table shows the prices and quantities of the two goods for 2000, 2001, and 2002. Using the given information, please find the Real GDP and GDP Deflator for 2001. (Base Year: 2000) Year 2000 2001 2002 A. 19800; 116.47 Price ($) 1000 1100 1300 Computer B. 16500; 100 Quantity 2 3 3 Price ($) 500 550 700 C. 18000; 110 TV Quantity 25 30 40 D. 18750; 130.75
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