The table below shows total output for an economy over 2 years.
2017
Price
Quantity
coconuts
$1.00
100 units
bananas
$3.00
200 units
pineapples
$6.00
100 units
2018
Price
Quantity
coconuts
$2.00
120
bananas
$4.00
200
pineapples
$8.00
90
TABLE 20-8
Refer to Table 20-8. The implicit GDP deflator in 2018 (using 2017 as the base year) is
2017 | Price | Quantity |
coconuts | $1.00 | 100 units |
bananas | $3.00 | 200 units |
pineapples | $6.00 | 100 units |
| | |
2018 | Price | Quantity |
coconuts | $2.00 | 120 |
bananas | $4.00 | 200 |
pineapples | $8.00 | 90 |
Refer to Table 20-8. The implicit GDP deflator in 2018 (using 2017 as the base year) is
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The table below shows total output for an economy over 2 years.
2012 | Price | Quantity |
Good A | $1.00 | 100 units |
Good B | $2.00 | 200 units |
Good C | $5.00 | 100 units |
2013 | Price | Quantity |
Good A | $2.00 | 120 units |
Good B | $3.00 | 200 units |
Good C | $10.00 | 98 units |
TABLE 20-5
16) Refer to Table 20-5. The implicit GDP deflator in 2013, when 2012 is used as the base year, was approximately
Select one:
a. 105.
b. 160.
c. 180.
d. 193.
e. 203.
The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2009.
Prices and Quantities
Year |
Price of Waffles |
Quantity of Waffles |
Price of Pancakes |
Quantity of Pancakes |
2008 |
$2.00 |
100 |
$1.00 |
100 |
2009 |
$2.00 |
120 |
$2.00 |
150 |
2010 |
$2.00 |
150 |
$3.00 |
200 |
2011 |
$4.00 |
180 |
$3.00 |
220 |
Refer to Table 1. In 2010, this country's GDP deflator was
77.8. |
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100. |
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128.6. |
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150. |
The table below lists annual consumer price index and inflation rates for a country over the period 2005-2010. Assume the year 2005 is used as the base year.
Year | Consumer Price Index | Inflation Rate |
2005 | 100 | |
2006 | 115 | B |
2007 | 125 | C |
2008 | 140 | D |
2009 | A | 10% |
2010 | 160 | E |
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120 | |||
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The price index was 170 in the first year, 180 in the second year, and 195 in the third year. The inflation rate was about
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0.1 points
QUESTION 17
The price index was 150 in the first year, 142.5 in the second year, and 138.2 in the third year. The economy experienced
5.0 percent deflation between the first and second years, and 3.0 percent deflation between the second and third years. | ||
7.5 percent deflation between the first and second years, and 4.3 percent deflation between the second and third years. | ||
5.3 percent inflation between the first and second years, and 4.1 percent inflation between the second and third years. | ||
7.5 percent inflation between the first and second years, and 4.3 percent inflation between the second and third years |
0.1 points
QUESTION 18
Which of the following statements is correct about the relationship between the nominal interest rate and the real interest rate?
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0.1 points
QUESTION 19
If the nominal interest rate is 6 percent and the rate of inflation is 2 percent, then the real interest rate is
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0.1 points
QUESTION 20
If the nominal interest rate is 7 percent and the real interest rate is -2.5 percent, then the inflation rate is
9.5 percent. | |||
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. From 2009 to 2010, the CPI for education increased from 279.3 to 281.8. What was the inflation rate for education between 2009 and 2010?
0.9% | |||
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If the consumer price index changes from 125 in September to 150 in October, what is the rate of inflation?
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9.1% |
. Suppose a basket of goods and services has been selected to calculate the CPI and 2014 has been selected as the base year. In 2013, the basketâs cost was $80; in 2014, the basketâs cost was $86; and in 2015, the basketâs cost was $90. The value of the CPI in 2015 was
104.6 and the inflation rate was 4.6%. | |||
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Suppose a basket of goods and services has been selected to calculate the CPI. In 2002, the basketâs cost was $80; in 2008, the basketâs cost was $92; and in 2010, the basketâs cost was $108. The base year must be
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2002 | |||
2008 | |||
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Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been chosen as the base year. In 2012, the basketâs cost was $80.00; in 2013, the basketâs cost was $84; and in 2014, the basketâs cost was $87.60. The value of the CPI was
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Which of the following is correct?
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The inflation rate is defined as the
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Economists use the term inflation to describe a situation in which
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