Thursday

December 18, 2014

December 18, 2014

Posted by **marc** on Tuesday, October 11, 2011 at 7:39am.

Units of Price

Year output per unit

1 16 $2

2 20 3

3 30 4

4 36 5

5 40 6

(a) If year 2 is the base year, give the price index for year 3.

(b) Give the nominal GDP for year 4.

(c) What is the real GDP for year 4?

(d) Tell which years you would deflate nominal GDP and which years you would inflate nominal GDP in finding real GDP.

- macroeconomics -
**Writeacher**, Tuesday, October 11, 2011 at 7:52amTo quote one of our very good math and science tutors: “You will find here at Jiskha that long series of questions, posted with no evidence of effort or thought by the person posting, will not be answered. We will gladly respond to your future questions in which

**your thoughts**are included.”

**Answer this Question**

**Related Questions**

macroeconomics - 22. The following table shows the price of a specific stereo ...

macroeconomics - 25. The following table shows the price of a specific stereo ...

Macroeconomics - Suppose that velocity is constant. The economy's output of ...

macroeconomics - Can someone point me in the right direction on how to solve ...

Macroeconomics - How do you calculate the nominal GDP and the real GDP of ...

Macroeconomics - suppose that this year's money supply is $500b, nominal gdp is...

Macroeconomics - Can someone point me in the right direction on how to solve ...

Statistics - Data collected on volcanic eruptions give a mean time between ...

Statistics-Probability - Data collected on volcanic eruptions give a mean time ...

Statistics-Probability - Data collected on volcanic eruptions give a mean time ...