13. Assume that we compute current dollar GDP for 2021Q2 and find that it rose from 2020Q2. But we also find that general prices rose over the same period the same amount, 2%. Is the country better off, worse off, or about the same when it comes to output? Explain

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Suppose that in 1994 the total output in a single-good economy was 7,000 buckets of chicken. Also suppose that in 1994 each bucket of chicken was priced at $15. Finally, assume that in 2015 the price per bucket of chicken was $20 and that 23,000 buckets were produced.   Instructions: In parts a-b, enter your answer rounded to 1 decimal place. In part c, enter your answers as a whole number.   a. What is the GDP price index for 1994, using 2015 as the base year?           b. By what percentage did the price level, as measured by this index, rise between 1994 and 2015?         percent   c. What were the amounts of real GDP in 1994 and 2015?        In 1994, real GDP = $         In 2015, real GDP = $

Answer the following questions on the basis of the following three sets of data for the country of North Vaudeville: (A) (B) (C) Price Price Level Real GDP Price Level 110 Real GDP Level Real GDP 110 235 285 100 210 100 235 100 260 100 235 95 235 95 235 100 260 90 235 90 210 100 285 a. Which set of data illustrates aggregate supply in the immediate short run in North Vaudeville? (Click to select) ✓ (Click to select) ✓ (Click to select) ✓ b. Assuming no change in hours of work, if real output per hour of work decreases by 5 percent, what will be the new levels of real GDP in the right column of B? Instructions: Enter your answers rounded to 1 decimal place. At a price level of 110: At a price level of 100: At a price level of 95: The short run? The long run? ៖