Question
3) The table below shows output and prices during 2022 (the reference year with a GDP deflator of 100) in the fictional country of Laffonia
3) The table below shows output and prices during 2022 (the reference year with a GDP deflator of 100) in the fictional country of Laffonia that produced only two goods (basketballs and volleyballs), and also the output and prices of these products in 2023.
| Output in 2012 Quantity | Per unit price ($) 2022 | Output in 2022 Quantity | Per unit ($) 2023 | |
| Basketballs | 60 | 16.00 | 65 | 22.00 |
| Baseballs | 15 | 25.00 | 20 | 28.00 |
Calculate the value of the GDP deflator in 2023.
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Essentials of Business Law
Authors: Anthony Liuzzo
9th edition
007802319X, 978-0078023194
