ECON1032Macroeconomics

Individual Assignment

Use the table below to answer the following question.

Table 21.3.2

Data from Southton

Item Rubber Ducks Beach Towels Price (dollars) Base 1.15 9.10 Price (dollars) Current 1.36 10.00 Table 21.3.2 Data from Southton Quantity Quantity (number) (number) Base Current 90 100 15 14 Table 20.4.4 Quantities 2013 2014 Bananas 1,000 bunches 1,100 bunches Coconuts 500 bunches 525 bunches Prices 2013 2014 Bananas $2 a bunch $3 a bunch Coconuts $10 a bunch $8 a bunchPrice level (GDP deflator, 2002 = 100) LAS 130 ..... ..i.. SAS 120 ...... ........ . ............' 110 B 100 ...... AD1 90 .. .. ADO L O 12.0 12.5 13.0 13.5 14.0 Real GDP (trillions of 2002 dollars) Figure 26.3.5