The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table: 2012 2011 Quantity Price Quantity Price T-Shirts 100 $24 120 $24 Red Bull (cans) Pizza (slices) 480 $2 480 $3 960 $3 880 $6 Nominal GDP in 2011 was $ (Enter your responses as integers.) and nominal GDP in 2012 was $ (Enter your responses as integers.) If 2011 is the base year, real GDP in 2011 was $☐ and real GDP in 2012 was $ Based on your answer above, the percentage change in real GDP between 2011 and 2012 was percent. (Round your response to two decimal places and use a minus sign if necessary.) If 2012 is the base year, real GDP in 2011 was $ and real GDP in 2012 was $. (Enter your responses as integers.) Based on your answer above, the percentage change in real GDP between 2011 and 2012 was Using 2011 as the base year, the GDP deflator in 2011 was Based on your answer above, the percentage change in prices between 2011 and 2012 was and the GDP deflator in 2012 was percent. (Round your response to two decimal places and use a minus sign if necessary.) (Round your responses to one decimal place.) percent. (Round your responses to one decimal place and use a minus sign if necessary.)

Which of the following are included in GDP calculations? a. Cleaning services performed by Molly Maid Corporation b. Lawn-mowing services performed by a neighborhood child c. Drugs sold illegally on a local street comer d. Prescription drugs manufactured in the United States and sold at a local pharmacy e. A rug woven by hand in Turkey f. Air pollution that diminishes the quality of the air you breathe g. Toxic-waste cleanup performed by a local company h. Car parts manufactured in the United States for a car assembled in Mexico i. A purchase of 1,000 shares of IBM stock j. Monthly Social Security payments received by a retiree

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table: 2011 2012 T-Shirts Red Bull (cans) Pizza (slices) Quantity 100 530 970 Price $25 $1 $3 Quantity 120 530 890 Price $25 $2 56 Nominal GDP in 2011 was $ and nominal GDP in 2012 was $ (Enter your responses as integers.) If 2011 is the base year, real GDP in 2011 was $ and real GDP in 2012 was $ (Enter your responses as integers.) Based on your answer above, the percentage change in real GDP between 2011 and 2012 was percent. (Round your response to two decimal places and use a minus sign if necessary.) If 2012 is the base year, real GDP in 2011 was $ and real GDP in 2012 was $ (Enter your responses as integers.) Based on your answer above, the percentage change in real GDP between 2011 and 2012 was Using 2011 as the base year, the GDP deflator in 2011 was and the GDP deflator in 2012 was Based on your…

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table: 2011 2012 Quantity Price Quantity Price T-Shirts 80 $25 96 $25 Red Bull (cans) 510 $1 510 $2 Pizza (slices) 1030 $3 950 $6 Nominal GDP in 2011 was $ and nominal GDP in 2012 was $ (Enter your responses as integers.) If 2011 is the base year, real GDP in 2011 was $ and real GDP in 2012 was $ (Enter your responses as integers.) Based on your answer above, the percentage change in real GDP between 2011 and 2012 was percent. (Round your response to two decimal places and use a minus sign if necessary.) If 2012 is the base year, real GDP in 2011 was $ and real GDP in 2012 was $ (Enter your responses as integers.) Based on your answer above, the percentage change in real GDP between 2011 and 2012 was percent. (Round your response to two decimal places and use a minus sign if necessary.) Using 2011 as the…