Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 21.A, Problem 3IAP
To determine
To compute:
The value of 2015 production in 2016 prices.
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The table shows the quantities produced and prices in 2015
and 2016 for an economy which produces only food and fun.
In 2015
Item
Quantity
Price
The base year is 2016.
Food
100
$3
Calculate the value of 2015 production in 2016 prices and the
percentage change in production when valued at 2016 prices.
Fun
68
$5
In 2016
Item
Quantity
Price
Food
73
$5
The value of 2015 production in 2016 prices is $.
Fun
69
$8
The percentage change in production when valued at 2016
prices is percent.
>>> Answer to 1 decimal place.
>>> If your answer is negative, include a minus sign. If your
answer is positive, do not include a plus sign.
Next
What is the U.S. GDP for the 1st quarter of 2017?
An economy produces only food and fun. The table shows the quantities produced and prices in 2018 and 2019. The
base year is 2019.
Question Help ▼
Calculate the value of 2019 production in 2018 prices and the percentage increase in production when valued at 2018
prices.
In 2018
Item
Quantity
Price
Food
The value of 2019 production in 2018 prices is $
97
$3
Fun
70
$2
In 2019
Item
Quantity
Price
Food
71
$9
Fun
67
$8
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Chapter 21 Solutions
Foundations of Economics (8th Edition)
Ch. 21.A - Prob. 1SPPCh. 21.A - Prob. 2SPPCh. 21.A - Prob. 3SPPCh. 21.A - Prob. 4SPPCh. 21.A - Prob. 5SPPCh. 21.A - Prob. 6SPPCh. 21.A - Prob. 7SPPCh. 21.A - Prob. 1IAPCh. 21.A - Prob. 2IAPCh. 21.A - Prob. 3IAP
Ch. 21.A - Prob. 4IAPCh. 21.A - Prob. 5IAPCh. 21.A - Prob. 6IAPCh. 21.A - Prob. 7IAPCh. 21 - Prob. 1SPPACh. 21 - Prob. 2SPPACh. 21 - Prob. 3SPPACh. 21 - Prob. 4SPPACh. 21 - Prob. 5SPPACh. 21 - Prob. 6SPPACh. 21 - Prob. 7SPPACh. 21 - Prob. 8SPPACh. 21 - Prob. 9SPPACh. 21 - Prob. 10SPPACh. 21 - Prob. 1IAPACh. 21 - Prob. 2IAPACh. 21 - Prob. 3IAPACh. 21 - Prob. 4IAPACh. 21 - Prob. 5IAPACh. 21 - Prob. 6IAPACh. 21 - Prob. 7IAPACh. 21 - Prob. 8IAPACh. 21 - Prob. 9IAPACh. 21 - Prob. 10IAPACh. 21 - Prob. 11IAPACh. 21 - Prob. 12IAPACh. 21 - Prob. 1MCQCh. 21 - Prob. 2MCQCh. 21 - Prob. 3MCQCh. 21 - Prob. 4MCQCh. 21 - Prob. 5MCQCh. 21 - Prob. 6MCQCh. 21 - Prob. 7MCQ
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