Table 2.5
2012 2013
Quantity Price Quantity Price
Table 2.5 gives quantities and prices for each good produced in a simple economy in 2012 and 2013.
-Refer to Figure 2.5.Calculate nominal and real GDP for 2012 and 2013.Assume 2012 is the base year.What is the value of the GDP deflator for 2012 and for 2013?
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