In the table for Problem 8-12, if 2014 is the base year, what is the price index

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In the table for Problem 8-12, if 2014 is the base year, what is the price index for 2013? (Round decimal fractions to the nearest tenth)
In problem 8-12

Assuming a 2014 base year:
What is nominal GDP for 2013 and 2014?
What is real GDP for 2013 and 2014?

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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Question Posted: Aug 01, 2016 12:37 PM

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In the table for Problem 8-12, if 2014 is the base year, what is the price index

Question:

2014 Good Computers $1,000 Bananas Televisions 100 Cookies Price Quantity Price Quantity 15 111.000 300 2 10,000 10 $800 6 3,000 500 1 10,000 150

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To find Price index calculate the nominal GDP and real GDP for a given year Price index can be calcu...View the full answer

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