The following table contains information about an economy that produces only pens and books. The base...
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The following table contains information about an economy that produces only pens and books. The base year is 2003. • Year Price of pens Quantity of pens Price of books Quantity books • 2003 3 100 10 50 • 2004 3 120 12 70 • 2005 4 120 14 70 • What is the approximate GDP deflator of 2005? • A. 112 • B. 117 • C. 125 • D. 138 The following table contains information about an economy that produces only pens and books. The base year is 2003. • Year Price of pens Quantity of pens Price of books Quantity books • 2003 3 100 10 50 • 2004 3 120 12 70 • 2005 4 120 14 70 • What is the approximate GDP deflator of 2005? • A. 112 • B. 117 • C. 125 • D. 138
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