EBK FOUNDATIONS OF ECONOMICS
8th Edition
ISBN: 8220103632225
Author: PARKIN
Publisher: PEARSON
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Chapter 21.A, Problem 6IAP
To determine
To compute:
The real GDP in 2015 and 2016 using chained dollar method.
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The table shows the quantities produced and prices in 2015 and 2016 for an island.
economy which produces only bananas and coconuts.
The base year is 2016.
Calculate real GDP in 2015 and 2016 using the chained-dollar method.
In terms of what dollars is each of these two real GDPS measured?
Real GDP in 2016 using the chained-dollar method is
$
Real GDP in 2015 using the chained-dollar method is
$
>>> Answer with a whole number
Real GDP in 2015 and real GDP in 2016 are measured in
▼ dollars
In 2015
Item
Bananas
Coconuts
In 2016
Item
Bananas
Coconuts
Quantity
99 bunches
53 bags
Quantity
114 bunches.
66 bags.
Price
$10 a bunch
$9 a bag
Price
$11 a bunch
$10 a bag
solve it correctly on white paper or typed
An economy produces only food and fun. The table shows the quantities produced and prices in 2018 and 2019. The
base year is 2019.
Using the chained-dollar method, calculate real GDP in 2018 and 2019.
In 2018
In terms of what dollars is each of these two real GDPS measured?
Item
Quantity
Price
Food
Real GDP in 2019 using the chained-dollar method is
91
$2
Fun
$4
51
$5
In 2019
Item
Quantity
Price
Food
80
$5
Fun
70
$6
Enter your answer in the answer box and then click Check Answer.
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Chapter 21 Solutions
EBK FOUNDATIONS OF ECONOMICS
Ch. 21.A - Prob. 1SPPCh. 21.A - Prob. 2SPPCh. 21.A - Prob. 3SPPCh. 21.A - Prob. 4SPPCh. 21.A - Prob. 5SPPCh. 21.A - Prob. 6SPPCh. 21.A - Prob. 7SPPCh. 21.A - Prob. 1IAPCh. 21.A - Prob. 2IAPCh. 21.A - Prob. 3IAP
Ch. 21.A - Prob. 4IAPCh. 21.A - Prob. 5IAPCh. 21.A - Prob. 6IAPCh. 21.A - Prob. 7IAPCh. 21 - Prob. 1SPPACh. 21 - Prob. 2SPPACh. 21 - Prob. 3SPPACh. 21 - Prob. 4SPPACh. 21 - Prob. 5SPPACh. 21 - Prob. 6SPPACh. 21 - Prob. 7SPPACh. 21 - Prob. 8SPPACh. 21 - Prob. 9SPPACh. 21 - Prob. 10SPPACh. 21 - Prob. 1IAPACh. 21 - Prob. 2IAPACh. 21 - Prob. 3IAPACh. 21 - Prob. 4IAPACh. 21 - Prob. 5IAPACh. 21 - Prob. 6IAPACh. 21 - Prob. 7IAPACh. 21 - Prob. 8IAPACh. 21 - Prob. 9IAPACh. 21 - Prob. 10IAPACh. 21 - Prob. 11IAPACh. 21 - Prob. 12IAPACh. 21 - Prob. 1MCQCh. 21 - Prob. 2MCQCh. 21 - Prob. 3MCQCh. 21 - Prob. 4MCQCh. 21 - Prob. 5MCQCh. 21 - Prob. 6MCQCh. 21 - Prob. 7MCQ
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