Question: Macroeconomic help. please show work so i can see how to do it. QUESTION 13 Consider the following data for a hypothetical economy (the base

Macroeconomic help. please show work so i can see how to do it.

Macroeconomic help. please show work so i can see how to do

QUESTION 13 Consider the following data for a hypothetical economy (the base year is Year 1): Year 1 Year 2 Good Price @antity Price @antity Good 1 $2 100 $3 200 Good 2 $3 100 $4 150 Suppose that the market basket (for the purpose of calculating the CPI) consists of 100 units of Good 1 and 100 units of Good 2. The CPI in year 2 (rounded to two decimal places) equals 0 0.00 O 0.71 o 1.00 O 1.40 QUESTION 14 Suppose that an economy has experienced steady deation (as measured by the GDP deator) from 2015 till the present time. The base year is 2015. Then, for this economy, in 2019: 0 Real GDP equals Nominal GDP. 0 Real GDP is greater than Nominal GDP. 0 Real GDP is less than Nominal GDP. QUESTION 15 With regard to the measurement of GDP of the US. using the income approach, the income earned by a non-US. resident (i.e., foreigner) stemming from her productive activity in the US. contributing towards production of output in the US. 0 is not included. 0 is included as a negative entry. 0 is included as a positive entry

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q: