Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produce...

Question

Question

Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produced and price

5. Calculate Inflation rate deflator for the years of 2011, 2012 and 2013. [Note: Inflation rate = (Price index in the target

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

2013 2012 20LL 1 P Q 1025 30 12 25 90 110 15 100 2 Nominal ADP 2011 = 10x25 + 100x2 - 250 7200 - 450 Nominal ADP 201 = 11x 25 - 39.5% since 2011. Similarly, Real ADP 2013 = 12825+ 110x4 - 300+ 440 = 740 (keeping 2012 as the base year) GDP deflator 201

Add a comment

Answer 2

Similar Homework Help Questions

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The...

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table: 20112012 QuantityPriceQuantityPriceT-Shirts100$25110$25Red Bull (cans)500$1500$1.50Pizza (slices)1000$2900$4a. Calculate nominal GDP for 2011 and 2012.b. Using 2011 as the base year, calculate real GDP for 2011 and 2012.c. Based on your answer from part b, by what percent age did real GDP grow between 2011 and 2012?d. Now, calculate real GDP...
The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table:

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table:20112012QuantityPriceQuantityPriceT-Shirts90$25108$25Red Bull (cans)510$2510$3Pizza (slices)980$3900$6Nominal GDP in 2011 was $nothing and nominal GDP in 2012 was $nothing. (Enter your responses as integers.)If 2011 is the base year, real GDP in 2011 was $nothing and real GDP in 2012 was $nothing. (Enter your responses as integers.)Based on your answer above, the percentage change in real GDP between 2011...
The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The...

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table: 2011 Quantity 90 T-Shirts Red Bull (cans) Pizza (slices) Price $24 $2 $3 2012 Quantity 108 500 940 Price $24 $3 $6 500 1020 Nominal GDP in 2011 was $ 6220 and nominal GDP in 2012 was $ 9732). (Enter your responses as integers.) If 2011 is...

Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2010-2013. Table 2 gives the fixed basket used for calcula

Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2010-2013. Table 2 gives the fixed basket used for calculating the CPI. Assume that the base year is 2011 and show your work! Table 1 - Price and Quantity of Goods Sold in 2010-2013 2010 2011 2012 2013 P Q P O P Q 25 Computers Cars...
ext Problem 8 The country of Syvania produces and consumes only three goods: Red Bull, pizza,...

ext Problem 8 The country of Syvania produces and consumes only three goods: Red Bull, pizza, and Tshirts. The quantty produced and price of each good in 2011 and 2012 are given in the following table 2011 2012 Quantity Price Quantity Price 80 540 1020 526 $2 $3 $26 T-Shirts Red Bull (cans) Pizza (alices) 95 540 040 $6 Nominal GOP in 2011 was and nominal GDP in 2012 was sEnter your responses as intepers)
5. The economy of Britannica produces three Year Computers DVDs Pizzas goods: computers, DVDs, and pizza....

5. The economy of Britannica produces three Year Computers DVDs Pizzas goods: computers, DVDs, and pizza. The Price Quantity Price Quantity Price Quantity accompanying table shows the prices and 2010 $900 10 $10 100 15 2 output of the three goods for the years 2011 1,000 10.5 12 105 16 2 2012 1,050 12 14 110 2010, 2011, and 2012. a. Calculate nominal GDP in Britannica for each of the three years. What is the per- cent change in nominal...

The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows...

The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Base Year (Year 1) Quantity Product Pizza T-Shirts Rent Price in the Base Year .$3.50 $25.00 $350.00 Price in Year 2 $4.38 $22.50 $385.00 Price in Year 3 $4.73 $26.25 $455.00 The inflation rate between Year 1 and Year 2 is The inflation rate between Year 2...
8. The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below...

8. The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Base Year (Year 1) Quantity Product Pizza T-Shirts Rent 20 Price in the Base Year $3.00 $10.00 $450.00 Price in Year 2 $3.75 $9.00 $495.00 Price in Year 3 $4.50 $10.50 $562.50 %. (Round both answers to one decimal place.) The inflation rate between Year 1...
The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quan...

The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Product Base Year (Year 1) Quantity Pizza Price in the Base Year $2.50 $10.00 $300.00 Price in Year 2 $3.13 $9.00 $330.00 Price in Year 3 $3.38 $8.50 $390.00 T-Shirts Rent The inflation rate between Year 1 and Year 2 is The inflation rate between Year 2...

1. Consider the following table for an economy that produces only six goods 2016 2018 Goods...

1. Consider the following table for an economy that produces only six goods 2016 2018 Goods PricelQuantity Price Quantity Pizza$410 S8 12 Shoe 12 20 36 15 T-Shirts 6 10 15 Bread2 Water1 Cola4 10 10 Assuming that 2016 is the base year, find the following; (Please show all calculations) (a) The values for nominal GDP for 2016 and 20118 (b) The values for real GDP for 2016 and 2018 (c) The GDP deflator for 2016 and 2018 (d) The...

Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produce...

Homework Answers

Add Answer to:
Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produce...

Post as a guest

Earn Coins

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The...

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table:

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The...

Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2010-2013. Table 2 gives the fixed basket used for calcula

ext Problem 8 The country of Syvania produces and consumes only three goods: Red Bull, pizza,...

5. The economy of Britannica produces three Year Computers DVDs Pizzas goods: computers, DVDs, and pizza....

The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows...

8. The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below...

The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quan...

1. Consider the following table for an economy that produces only six goods 2016 2018 Goods...

Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produce...

Homework Answers

Add Answer to: Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produce...

Post as a guest

Earn Coins

Add Answer to:
Consider an ecohomy in which only two products like T-shirts and Pizza (slices) are produced. The quantity produce...