Exhibit 18-8
-Suppose an economy's GDP consists only of speakers and televisions. Exhibit 18-8 shows the production of these goods in 2016 and 2017.
(A) How much was nominal GDP in 2016?
(B) How much was mominal GDP in 2017?
(C) If 2010 was the base year, what was real GDP in 2017 ?
(D) If 2011 was the base year, what was real GDP in 2016 ?
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(B) Numinal GDP in ...
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Q143: The consumption of leisure
A)is always omitted from
Q148: If a parent spends one hour each
Q150: The figure below shows real and
Q150: Why do economists believe that the CPI
Q152: The CPI tends to understate inflation.
Q154: Which of the following statements is false?
A)Some
Q155: Suppose that real GDP grew more slowly
Q156: GDP is a perfect measure of production
Q160: Exhibit 18-8 Q162: There is no correlation between the decline
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