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Macroeconomic help. please show work so i can see how to do it. QUESTION 11 Consider the following data for a hypothetical economy (the base
Macroeconomic help. please show work so i can see how to do it.
QUESTION 11 Consider the following data for a hypothetical economy (the base year is Year 1): Year 1 Year 2 Good Price Quantity Price Quantity Good 1 $2 100 $3 200 Good 2 $3 100 $4 150 The GDP deflator in year 2 (rounded to two decimal places) equals O 0.00 O 0.71 O 1.00 O 1.41 QUESTION 12 Consider the following data for a hypothetical economy (the base year is Year 1): Year 1 Year 2 Good Price Quantity Price Quantity Good 1 $2 100 $3 200 Good 2 $3 100 $4 150 Suppose that the market basket (for the purpose of calculating the CPI) consists of 100 units of Good 1 and 100 units of Good 2. The CPI in year 1 (rounded to two decimal places) equals O 0.00 O 0.71 O 1.00 1.40
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