Calculating Real GDP, Price Indices, and Inflation. Using the data from the table below, answer the...
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Calculating Real GDP, Price Indices, and Inflation. Using the data from the table below, answer the following questions: 2011 2012 Quantities Produced CDs 110 120 Tennis Rackets 205 225 Price per CD $22 $26 Prices Price per Tennis Racket $100 $125 Real GDP in 2011 using 2011 prices is $ 22920. (Enter your response as an integer.) Real GDP in 2012 using 2011 prices is $ 25,140 (Enter your response as an integer.) Real GDP grew by 9.69 percent. (Enter your response as a percentage rounded to two decimal places.) The price index for GDP (GDP Deflator) for 2012 using 2011 as the base year is 124.28. (Enter your response rounded to two decimal places.) Prices increased by 24.28 percent. (Enter your response as a percentage rounded to two decimal places.) Calculating Real GDP, Price Indices, and Inflation. Using the data from the table below, answer the following questions: 2011 2012 Quantities Produced CDs 110 120 Tennis Rackets 205 225 Price per CD $22 $26 Prices Price per Tennis Racket $100 $125 Real GDP in 2011 using 2011 prices is $ 22920. (Enter your response as an integer.) Real GDP in 2012 using 2011 prices is $ 25,140 (Enter your response as an integer.) Real GDP grew by 9.69 percent. (Enter your response as a percentage rounded to two decimal places.) The price index for GDP (GDP Deflator) for 2012 using 2011 as the base year is 124.28. (Enter your response rounded to two decimal places.) Prices increased by 24.28 percent. (Enter your response as a percentage rounded to two decimal places.)
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Given 2011 is the base year Real GDP In 2011 Price of CDs in 2011 Quantity of CDs in 2011 Price of T... View the full answer
Related Book For
Macroeconomics Principles, Applications, and Tools
ISBN: 978-0132555234
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
Posted Date:
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