Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price...

Question

Question

Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price per Unit $1 $2 $2 $4 S6 S8 4 6 Use Table: Real and Nominal Output. The price index in year 1, using year 4 as the base period, is: O 100 O 25 O 50 O 150

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Price index in year 1 using year 4 as base period.

Price in year 1 = $1

Price in year 4 = $4

Price index = ($1/$4 )*100 = 25

Price index in year 1 using year 4 as base period = 25

Ans is 25

Add a comment

Answer 2

Similar Homework Help Questions

Use the following table for a hypothetical single-product economy. Assume that 2010 is the base year....

Use the following table for a hypothetical single-product economy. Assume that 2010 is the base year. YEAR Quantity Price per unit Price Index Nominal GDP Real GDP 2010 100 10 2011 120 20 2012 125 25 2013 130 30 2014 140 40 2015 150 50 2016 200 55 2017 205 60 Complete the table by calculating the Price index, Nominal GDP and Real GDP.
Price/Unit $20 S30 $40 S50 $60 Column A Units/year 100 85 70 Column B Units/year 110...

Price/Unit $20 S30 $40 S50 $60 Column A Units/year 100 85 70 Column B Units/year 110 95 80 65 50 40 Refer to the table above. Relative to column A, it appears that column B represents an increase in quantity demanded an increase in demand O a decrease in quantity supplied a change in supply
What is the nominal GDP of year 3? What is the Real GDP of year 3:...

What is the nominal GDP of year 3? What is the Real GDP of year 3: Year Units of Output Price of Bagel per Unit Price Index (year 1=100) 1 10 $5 100 2 15 10 200 3 20 15 300 4 25 20 400

QUESTION 29 YearUnits of Outpu Price Per Unit G4 20 25 30 3 me an economy...

QUESTION 29 YearUnits of Outpu Price Per Unit G4 20 25 30 3 me an economy that is producing only one product. Output and price data for a three-year period are shown in the table. If year 2 is chosen for the base year, in year 3 nominal GDP and real GDP, respectively, are $120 and $100 $30 and $5. 。$180 and $120 O $180 and $30.
Repeat units 20 30 40 50 60 70 # of chains 24 12 10 1) Above is a table of a size distribution fo...

Repeat units 20 30 40 50 60 70 # of chains 24 12 10 1) Above is a table of a size distribution for the polymer in question 1 (formula weight is 43 g/mo). Compute PD. (use a spreadsheet) Repeat units 20 30 40 50 60 70 # of chains 24 12 10 1) Above is a table of a size distribution for the polymer in question 1 (formula weight is 43 g/mo). Compute PD. (use a spreadsheet)
Units of Output Price Per Year Unit $2 10 15 18 20 The accompanying table gives...

Units of Output Price Per Year Unit $2 10 15 18 20 The accompanying table gives price and output data over a five-year period for an economy that produces only one good. If year 2 is the base year, then Real GDP in year 5 is

Refer to the demand schedule below: 3 Price ($) Quantity demanded 80 70 60 50 40...

Refer to the demand schedule below: 3 Price ($) Quantity demanded 80 70 60 50 40 30 20 10 50 100 150 200 250 300 350 400 5 points eBook References Price increases from $60 to $70 Demand is (Click to select)and total revenue (Click to select) Mc Graw Hill <Prev 3012. LAB-Experime docx ︿ mth+241-010+s..npa h A MACRO.docx
Refer to the demand schedule below: 3 Price ($) Quantity demanded 80 70 60 50 40...

Refer to the demand schedule below: 3 Price ($) Quantity demanded 80 70 60 50 40 30 20 10 50 100 150 200 250 300 350 400 5 points eBook References Price increases from $60 to $70 Demand is (Click to select)and total revenue (Click to select) Mc Graw Hill <Prev 3012. LAB-Experime docx ︿ mth+241-010+s..npa h A MACRO.docx
Answer the next question based on the following price and output data over a five-year period...

Answer the next question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Year Units of Output Price per Unit In year 4, nominal GDP would be $120. O $60. O $316. $90.

Price per bag Total Revenue $70 $2,100 30 $60 $2,400 40 $50 $2,500 50 $40 60...

Price per bag Total Revenue $70 $2,100 30 $60 $2,400 40 $50 $2,500 50 $40 60 $2,400 $30 $2,100 70 $20 $1,600 80 a) Calculate the total revenue at each price point. At which price would you advise the bookstore to sell bags? b) To assist with your presentation to the bookstore staff, you plan to have a discussion on elasticity. Calculate the price elasticity of demand between the following price points and indicate whether demand is elastic or inelastic:...

Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price...

Homework Answers

Add Answer to:
Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price...

Post as a guest

Earn Coins

Use the following table for a hypothetical single-product economy. Assume that 2010 is the base year....

Price/Unit $20 S30 $40 S50 $60 Column A Units/year 100 85 70 Column B Units/year 110...

What is the nominal GDP of year 3? What is the Real GDP of year 3:...

QUESTION 29 YearUnits of Outpu Price Per Unit G4 20 25 30 3 me an economy...

Repeat units 20 30 40 50 60 70 # of chains 24 12 10 1) Above is a table of a size distribution fo...

Units of Output Price Per Year Unit $2 10 15 18 20 The accompanying table gives...

Refer to the demand schedule below: 3 Price ($) Quantity demanded 80 70 60 50 40...

Refer to the demand schedule below: 3 Price ($) Quantity demanded 80 70 60 50 40...

Answer the next question based on the following price and output data over a five-year period...

Price per bag Total Revenue $70 $2,100 30 $60 $2,400 40 $50 $2,500 50 $40 60...

Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price...

Homework Answers

Add Answer to: Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price...

Post as a guest

Earn Coins

Add Answer to:
Table: Real and Nominal Output Units of Output 40 30 50 70 60 60 Year Price...