There are two industries in this economy, producing product A and product B. Provided in the table below are the quantities produced and the price per unit for 3 different years. Considering Year 1 as the base year, fill in the blanks in the following table. Note: For the GDP Deflator entries, please round all answers to 1 decimal place. Year 1 Year 2 Year 3 19 Quantity of A (units) 17 25 Quantity of B (units) 19 24 24 7 10 8 Price of A ($/unit) Price of B ($/unit) 8 6 Nominal output value of A ($) 0 0 0 0 Nominal output value of B ($) otal nominal economy output ($) 0 0 Real output value of A ($) 0 0 Real output value of B ($) 0 0 otal real economy output ($) 0 0 DP deflator 0 0 5 0 0 0 0 0 0 0
There are two industries in this economy, producing product A and product B. Provided in the table below are the quantities produced and the price per unit for 3 different years. Considering Year 1 as the base year, fill in the blanks in the following table. Note: For the GDP Deflator entries, please round all answers to 1 decimal place. Year 1 Year 2 Year 3 19 Quantity of A (units) 17 25 Quantity of B (units) 19 24 24 7 10 8 Price of A ($/unit) Price of B ($/unit) 8 6 Nominal output value of A ($) 0 0 0 0 Nominal output value of B ($) otal nominal economy output ($) 0 0 Real output value of A ($) 0 0 Real output value of B ($) 0 0 otal real economy output ($) 0 0 DP deflator 0 0 5 0 0 0 0 0 0 0
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 6PA
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