Question: can you help me with this? 7. Work It Out . Consider an economy that produces and consumes hot dogs and hamburgers. In the following

can you help me with this? 7. Work It Out .

can you help me with this?

7. Work It Out . Consider an economy that produces and consumes hot dogs and hamburgers. In the following table are data for two different years. 2010 2018 Good Quantity Price Quantity Price Hot dogs 200 $2 250 $4 Hamburgers 200 $3 500 $4 a. Using 2010 as the base year, compute the following statistics for each year: nominal GDP, real GDP, the implicit price deflator for GDP, and the CPI. b. By what percentage did prices rise between 2010 and 2018? Give the answer for each good and also for the two measures of the overall price level. Compare the answers given by the Laspeyres and Paasche price indexes

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16. Now put the areas you have ranked in order of priority and reflect on which values they correspond to in your value hierarchy.

14. Now reconcile what you answered to problem 15 with problem 13.

11. In what environment or contexts is it the value you want others to associate you with that the value can best be expressed in? Do you seek out these contexts to learn?