Table 8-18
A very simple economy produces three goods: cameras,legal services,and books.The quantities produced and their corresponding prices for 2013 and 2018 are shown in the table above.
-Refer to Table 8-18.What is real GDP in 2018,using 2018 as the base year?
A) $28,885
B) $11,790
C) $11,200
D) $10,275
Correct Answer:
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Q182: To make the calculation of real GDP
Q183: Table 8-18 Q184: If the GDP deflator rises from 185 Q185: The GDP deflator is equal to Q186: If nominal GDP rises we can say Q188: Table 8-19 Q189: Table 8-18 Q190: Which of the following is a true Q191: Table 8-19 Q192: Under what circumstances would the GDP deflator Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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A)real GDP
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