QUESTION 38 Table 2 contains data for the country of Dachsland, which produces only pretzels and books. The base year is 2005. Refer to Table 2. In 2005, Dachsland's Year Price of Books $1.50 $2.00 $2.50 Quantity of Books Price Quantity of of Pretzels Pretzels 2005 $4.00 90 2006 $4.00 100 2007 $5.00 120 2008 $6.00 150 $3.50 200 ⒸA. nominal GDP was equal to real GDP, and the GDP deflator was equal to 100. B. nominal GDP was less real GDP, and the GDP deflator was less than 100. OC. nominal GDP was greater than real GDP, and the GDP deflator was greater than 100. OD. nominal GDP was equal to real GDP, and the GDP deflator was equal to 1. 150 180 200

Other goods per month 2. (10 points) RB Inc., is a wholesaler specializing in dry foods, such as rice and dry beans. Assume that these dry goods are all considered inferior goods. RB, Inc.'s manager is troubled by a recent article in The Wall Street Journal that says a recession is imminent and that income will fall by 3 percent over the next year. What do you think is likely to happen to the equilibrium price of the products RB Inc. sells, if there is a recession and income falls? You have to explain what is expected to happen to demand and/or supply and therefore to the equilibrium price. You may include a graph if you wish to. 3. (10 points) (a) Angela 1112 (b) Betty Other goods per month 2 3 L' L², BOGOF 3 Rooms, Nights per month L2, BOGOF 4 Rooms, Nights per month (BOGOF indicates the Buy Three Get One Free budget line, which is L² in both graphs)) Angela and Betty are deciding how many nights to stay at a resort. Given above are the budget lines and indifference curves for both…

number 12 please

Purchase of tables and chairs by a restaurant is ___________ expenditure

The following graph shows the market for orange juice. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in the grey field will change accordingly. PRICE (Dollars per gallon) 12 Graph Input Tool ? Price 2 (Dollars per gallon) Supply 10 Quantity 112 Quantity supplied demanded (Millions of gallons) 22 22 (Millions of gallons) 00 Surplus 0 (Millions of gallons) Shortage (Millions of gallons) 00 90 + Demand 0 0 15 30 45 60 75 90 105 QUANTITY (Millions of gallons) 120 135 The market price of orange juice without government intervention is $ per gallon. Consider legislation that doesn't allow the price of orange juice to be below $9 per gallon and stipulates that the government buy any surplus orange juice produced at that price. In order to raise the price to $9 per gallon, the government would need to buy million gallons of…

The relative price of hamburgers this year has A. increased. B. decreased. C. stayed the same. D. Not enough information has been given to calculate an answer.

In 1973, the price of a Big Mac was $0.50. Use the information in the table below to find the price of a Big Mac in 2006 dollars. Year 1973 2006 CPI 44.4 201.6 Source: Bureau of Labor Statistics. Base year 1962-84. The value of a 1973 Big Mac in 2006 dollars is $ The actual price of a Big Mac in 2006 was approximately $2.99. Thus the price of Big Macs has risen (Round your answer to two decimal places.) faster than the cost of living. at the same rate as slower than

Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period.Seafood    2000 Qty. (lb)    | 2000 Price ($/lb)    | 2009 Price ($/lb)Halibut       75,090                                1.91                         2.33Lobster      83,080                              3.72                         3.09Tuna          50,779                                1.87                          1.97(a)Compute a price relative for each type of seafood. (Round your answers to one decimal place.)Seafood    Price RelativeHalibut    122.0  Lobster _________ Tuna    105.3  (b)Compute a weighted aggregate price index for the seafood catch. (Round your answer to one decimal place.)I2009 = ___________ Comment on the change in seafood prices over the nine-year period. (Enter your percentage as a positive value. Round your answer to one decimal place.)Seafood prices have decreased by ______ % over the 9-year period according to the index.

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A typical consumer in Lykesville has a market basket consisting of 4 strawberries, 9 grapefruits, and 5 blueberries. The data table below provides information on Lykesville's prices of strawberries, grapefruits, and blueberries from 2008 through 2010. 2008 2009 2010 unit of strawberries $1.1 $1.5 $1.2 Price per unit of grapefruits $1 Price per unit of blueberries $0.9 $1.2 Price per $1.4 $1.4 $2 What was the cost of the market basket in 2009? What was the price index in 2009, assuming 2008 is the base year?