Consumers in an economy buy only three general types of products, A, B, and C. Changes in the prices of these items over a period are shown above. Using year 1 as the base year, the country's Consumer Price Index in year 2 is A) 103.75. B) 100.00. C) 106.25, D) 105.25. Nominal & Real GDP Quantity Price Quantity Price Quantity Price Product Year 1 Year 1 Year 2 Year 2 Year 3 Year 3 A $11 6. $12 8. $10 B. 11 21 13 18 6. 23 13 18 14 17 14 19 What is nominal GDP for Year 1? If Year 1 is the base year, then what is real GDP for Year 2?

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Which of the following combinations are unattainable given a consumer's budget line? Multiple choice question. A combination that intersects either of the axes Combinations that fall on the budget line Combinations that fall inside the budget line Combinations on the midpoint of the budget line Combinations that fall beyond the budget line

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