Table 8-18
A very simple economy produces three goods: cameras,legal services,and books.The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above.
-Refer to Table 8-18.What is real GDP in 2016,using 2016 as the base year?
A) $28,885
B) $11,790
C) $11,200
D) $10,275
Correct Answer:
Verified
Q182: To make the calculation of real GDP
Q184: If the GDP deflator rises from 185
Q185: The GDP deflator is equal to
A)real GDP
Q186: Table 8-18 Q189: Table 8-19 Q190: Which of the following is a true Q193: If the GDP deflator is 142,by how 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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