Quantities and prices of these goods for the last several years are shown in the following table.
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Quantities and prices of these goods for the last several years are shown in the following table. The base year is 2014.
| Year | Movies | Popcorn | ||
Price (Dollars per movie) | Quantity (Movies) | Price (Dollars per bag) | Quantity (Bags) | |
| 2014 | 12.00 | 600 | 9 | 2,000 |
| 2015 | 13.00 | 700 | 5 | 600 |
| 2016 | 12.00 | 450 | 5 | 650 |
| 2017 | 11.00 | 225 | 3 | 325 |
What was this country's GDP Deflator in 2014?
Expert Answer:
To calculate the GDP deflator in 2014 we need to use the formula GDP Deflator Nominal GDP Real GDP 1... View the full answer
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