Good 2011 Quantity 2011 Price 2012 Quantity 2012 Price Apples 50 $0.75 55 $1.00 Oranges 10...

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Good 2011 Quantity 2011 Price 2012 Quantity 2012 Price Apples 50 $0.75 55 $1.00 Oranges 10...

Good	2011 Quantity	2011 Price	2012 Quantity	2012 Price
Apples	50	$0.75	55	$1.00
Oranges	10	$2.50	10	$2.50
Pears	40	$1.00	30	$1.50

Assuming 2011 is the base year, calculate real GDP and the GDP price deflator in 2012.

Assuming 2011 is the base year, calculate the percent change in real GDP and the percent change in the GDP deflator between 2011 and 2012.

business economics

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