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Posted on Sep 14, 2024

Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton.

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Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. Base Year =2011 - Calculate the nominal GDP for 2011. - Calculate the nominal GDP for 2012. - Calculate the nominal GDP for 2013. - Calculate the real GDP for 2011. - Calculate the real GDP for 2012. - Calculate the real GDP for 2013. - Calculate the growth rate in real GDP for 2012, (using 1 decimal place - Calculate the growth rate in real GDP for 2013. (using 1 decimal place - Calculate the cost of the market basket for 2011 (using 1 decimal place). - Calculate the cost of the market basket for 2012 (using 1 decimal place). - Calculate the cost of the market basket for 2013 (using 1 decimal place). - Calculate the CPI for 2012 (using 1 decimal place). - Calculate the CPI for 2013 (using 1 decimal place). - Calculate the inflation rate for 2012 using the CPI (using 1 decimal place). - Calculate the inflation rate for 2013 using the CPI (using 1 decimal place). - Calculate the GDP deflator for 2012. - Calculate the GDP deflator for 2013 (using 1 decimal place). - Calculate the inflation rate for 2012 using the GDP deflator (using 1 decimal place). - Calculate the inflation rate for 2013 using the GDP deflator (using 1 decimal place), Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. Base Year =2011 - Calculate the nominal GDP for 2011. - Calculate the nominal GDP for 2012. - Calculate the nominal GDP for 2013. - Calculate the real GDP for 2011. - Calculate the real GDP for 2012. - Calculate the real GDP for 2013. - Calculate the growth rate in real GDP for 2012, (using 1 decimal place - Calculate the growth rate in real GDP for 2013. (using 1 decimal place - Calculate the cost of the market basket for 2011 (using 1 decimal place). - Calculate the cost of the market basket for 2012 (using 1 decimal place). - Calculate the cost of the market basket for 2013 (using 1 decimal place). - Calculate the CPI for 2012 (using 1 decimal place). - Calculate the CPI for 2013 (using 1 decimal place). - Calculate the inflation rate for 2012 using the CPI (using 1 decimal place). - Calculate the inflation rate for 2013 using the CPI (using 1 decimal place). - Calculate the GDP deflator for 2012. - Calculate the GDP deflator for 2013 (using 1 decimal place). - Calculate the inflation rate for 2012 using the GDP deflator (using 1 decimal place). - Calculate the inflation rate for 2013 using the GDP deflator (using 1 decimal place)