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consider the following table for the economy of a nation whose residents produce four final goods:
Consider the following table for the economy of a nation whose residents produce four final goods:
Goods
2017
2018
Price
Quantity
Price
Quantity
Computers
$981.00
11
$735.00
13
Bananas
$4.00
2,799
$9.00
1,134
Televisions
$10.00
527
$151.00
332
Cookies
$1.00
10,994
$2.00
9,604
Assume 2018 as the base year. Calculate the price index for 2017. (Enter your response rounded to one decimal place)
consider the following table for the economy of a nation whose residents produce four final goods:
Consider the following table for the economy of a nation whose residents produce four final goods:
| Goods | 2017 | 2018 | ||
| Price | Quantity | Price | Quantity | |
| Computers | $981.00 | 11 | $735.00 | 13 |
| Bananas | $4.00 | 2,799 | $9.00 | 1,134 |
| Televisions | $10.00 | 527 | $151.00 | 332 |
| Cookies | $1.00 | 10,994 | $2.00 | 9,604 |
Assume 2018 as the base year. Calculate the price index for 2017. (Enter your response rounded to one decimal place)
Divya SinghLv10
25 Mar 2021
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Related questions
Consider the following table for the economy of a nation whose residents produce four final goods:
|
2017 |
2018 |
|||
|
Goods |
Price |
Quantity |
Price |
Quantity |
|
Computers |
$902.00 |
9 |
$851.00 |
13 |
|
Bananas |
$6.00 |
2773 |
$10.00 |
1299 |
|
Televisions |
$97.00 |
521 |
$155.00 |
267 |
|
Cookies |
$1.00 |
10771 |
$2.00 |
9636 |
a. Assume 2018 as the base year:
Calculate the nominal GDP for 2017
Calculate the nominal GDP for 2018
b. Assume 2018 as the base year:
Calculate the real GDP for 2017
Calculate the real GDP for 2018
