Question: Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the adjacent five

Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the adjacent five questions: Assume that the base year is 2012.
a. what was the real GDP in 2013?
b. What was the gdp deflator in 2013?
c. What was the inflation rate between the two years?
d, What was the nominal gdp in 2012?
e. What was the growth rate of real gdp between two years?
3. Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the adjacent five questions: Assume that the base year is 2012.
2013 2012 2012 Quantity Price 2013 Quantity Good Price $3 $2 200 A 250 $2 $3 B 300 400 $5 $4 400 500

2013 2012 2012 Quantity Price 2013 Quantity Good Price $3 $2 200 A 250 $2 $3 B 300 400 $5 $4 400 500

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a The real GDP is the total value of all of the final goods and services that an economy produces du... View full answer

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