Question
Consider an economy that only produces skateboards. In 2016, they produced 70 skateboards and the price was $100.00 per skateboard. In 2017, they produced 90
Consider an economy that only produces skateboards. In 2016, they produced 70 skateboards and the price was $100.00 per skateboard. In 2017, they produced 90 skateboards and the price was $112.00 each.
- Nominal GDP for 2016?
- Nominal GDP for 2017?
- Real GDP for 2016?
- Real GDP for 2017?
- GDP deflator for 2016?
- GDP deflator for 2017?
- Growth rate percentage of real GDP from 2016 to 2017?
- Inflation rate in 2017?
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
