D. The table below contains data for the countryof Batterland, which produces only waffles andpancakes. The base year is 2009.YearPriceQuantity Price ofQuantiofofPancakes ofWaffles WafflesPancak2008 $2.00100$1.001002009$2.00120$2.001502010 $2.0O150$3.002002011$4.00180$3.002201. In 2009, this country's nominal GDP was2. In 2009, this country's real GDP was3. In 2011, this country's GDP deflator was4. In 2011, this country's real GDP growth ratewas5. This country's inflation rate in 2011 was

The GDP deflator, also called implicit price deflator, is a measure of inflation. It is the ratio of…

Answered: 3. In 2011, this country's GDP deflator…

3. In 2011, this country's GDP deflator was 4. In 2011, this country's real GDP growth rate was 5. This country's inflation rate in 2011 was

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 7SCQ: Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at...

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Question

D. The table below contains data for the country
of Batterland, which produces only waffles and
pancakes. The base year is 2009.
Year
Price
Quantity Price of
Quanti
of
of
Pancakes of
Waffles Waffles
Pancak
2008 $2.00
100
$1.00
100
2009
$2.00
120
$2.00
150
2010 $2.0O
150
$3.00
200
2011
$4.00
180
$3.00
220
1. In 2009, this country's nominal GDP was
2. In 2009, this country's real GDP was
3. In 2011, this country's GDP deflator was
4. In 2011, this country's real GDP growth rate
was
5. This country's inflation rate in 2011 was

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