The following represents the production of goods for a country Commodity Quantity 2010 Quantity 2009 2010 Prices 2009 Prices $15 $14 $30 Beer 32 46 9 24 Pizza Telephones $18 $15 44 $32 Nominal GDP for 2009 is 1216. (Enter your response as an integer.) Nominal GDP for 2010 is 1554 (Enter your response as an integer.) Using 2009 as the base year, real GDP for 2010 is 1394. (Enter your response as an integer.) Using 2000 as the base year, the GDP deflator for 2010 is 111.48. (Round your response to two decimal places) The rate of inflation (using the GDP deflator) betwoen 2009 and 2010 is 11.48%. (Round your response to two decimal places)

The following represents the production of goods for a country Commodity Quantity 2010 Quantity 2009 2010 Prices 2009 Prices $15 $14 $30 Beer 32 46 9 24 Pizza Telephones $18 $15 44 $32 Nominal GDP for 2009 is 1216. (Enter your response as an integer.) Nominal GDP for 2010 is 1554 (Enter your response as an integer.) Using 2009 as the base year, real GDP for 2010 is 1394. (Enter your response as an integer.) Using 2000 as the base year, the GDP deflator for 2010 is 111.48. (Round your response to two decimal places) The rate of inflation (using the GDP deflator) betwoen 2009 and 2010 is 11.48%. (Round your response to two decimal places)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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