MGEA06H3 Study Guide - Final Guide: Gdp Deflator
20 Mar 2013
School
Department
Course
Professor
2
MGEA06H3 Full Course Notes
Verified Note
2 documents
Document Summary
Question 3 question 5: macroland consumes 4 goods (apples, pens, dvd, and bread). Households purchases all apples and bread, one-third ( ) of pens and half (50%) of the dvd. The remaining (consumption of) pens and dvd are equally split between firms and the government. In addition, half of the bread is imported from foreign countries, while the remaining goods are produced locally. The following table shows the quantities of goods consumed and their prices. Statistics department of macroland chooses 2010 as the base year. What is the gdp deflator in 2009 (rounded to 2 decimal places): 87. 23, 99. 75. Find the consumer price index in 2009 (rounded to 2 decimal places): 136, 99. 74. Based on your answer in questions 3 & 4, the gdp deflator and the cpi in macroland are different in 2009 because: 113. 79, 99. 70, 100. 80, 94. 80, 100. 26, 94. 75, 95. 17, 114. 63, 100, 94. 56. The basket used in computing the gdp deflator and the cpi are different.
