Hamburgers Price in 1993 = $1.00 Quantity produced in 1993 = 100 Quantity produced in 1994 = 75 Price in 1994 = $2.00 %3D What is nominal GDP (Pc x Qc) for 1993 and 1994? 1993: 100*1= $100 1994: 75*23 $150 What is real GDP in 1993 and 1994 if 1993 is our base year? (Pb x Qc) Real GDP of 1993 is= 100*1= $100 Real GDP in 1994 is= 75*1= $75 What is the deflator in 1993 and 1994 (deflator = nominal/real) GDP deflator of 1993= 100/100*100= 100% GDP deflator of 1994= 150/75*100= 200% What is the inflation rate in our hamburger economy? (% change in deflator) Calculate inflation rate if the deflator is 135 in 1995 and 140 in 1996.

Hamburgers Price in 1993 = $1.00 Quantity produced in 1993 = 100 Quantity produced in 1994 = 75 Price in 1994 = $2.00 %3D What is nominal GDP (Pc x Qc) for 1993 and 1994? 1993: 1001= $100 1994: 7523 $150 What is real GDP in 1993 and 1994 if 1993 is our base year? (Pb x Qc) Real GDP of 1993 is= 1001= $100 Real GDP in 1994 is= 751= $75 What is the deflator in 1993 and 1994 (deflator = nominal/real) GDP deflator of 1993= 100/100100= 100% GDP deflator of 1994= 150/75100= 200% What is the inflation rate in our hamburger economy? (% change in deflator) Calculate inflation rate if the deflator is 135 in 1995 and 140 in 1996.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Why do people share content via social media channels? They find it interesting and/or entertaining. They think it can be helpful to others. They want to get a laugh. A & B Only. All of these.
How difficult was it to find the product you wanted?
can you please help with part D the last two questions, thank you.
how about questions d and e?
Why is
Understand legal alternatives to contractual disputes that work
What are the pros and cons of online learning?
What do you think is the advantage of wearing school uniforms during online class?
Do more sales bring more profits?
When Sasha's father speaks to her but she is distracted and looks around, he sometimes reaches out and turns her head so they make eye contact. Her father is using what type of touch? love-intimate touch social-polite touch demand touch functional touch
I need help with these questions