MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Chapter 5, Problem 3SQP
To determine
Calculate the total values of output.
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from the table below:
price and quantity for three types of products
year 2018
price of pencils 0.50
quantity of pencils 200
price of pens 0.70
quantity of pen 150
price of markers 2.20
quantity of markers 70
year 2019
price of pencils 0.80
quantity of pencils 150
price of pens 1.30
quantity of pen 100
price of markers 2.60
quantity of markers 150
year 2020
price of pencils 1.20
quantity of pencils 100
price of pens 2.00
quantity of pen 50
price of markers 3.50
quantity of markers 200
a) Calculate nominal gdp for each year.
b) Calculate real Gdp for each year(base year.2018)
Create a speech about the relationship of income, saving and consumption to price changes in shopping.
Naa was consuming 100 balls of kenkey (X) and 50 pieces of Fish per month. The price of kenkey rose from GHS 2 to GHS 3. The price of fish remained the same at GHS 3. How much would Naa's income(M) have to rise so that can still exactly afford 100 balls of kenkey and 50 pieces of fish?
Chapter 5 Solutions
MACROECONOMICS FOR TODAY
Ch. 5.6 - Prob. 1YTECh. 5 - Prob. 1SQPCh. 5 - Prob. 2SQPCh. 5 - Prob. 3SQPCh. 5 - Prob. 4SQPCh. 5 - Prob. 5SQPCh. 5 - Prob. 6SQPCh. 5 - Prob. 7SQPCh. 5 - Prob. 8SQPCh. 5 - Prob. 9SQP
Ch. 5 - Prob. 10SQPCh. 5 - Prob. 11SQPCh. 5 - Prob. 12SQPCh. 5 - Prob. 13SQPCh. 5 - Prob. 1SQCh. 5 - Prob. 2SQCh. 5 - Prob. 3SQCh. 5 - Prob. 4SQCh. 5 - Prob. 5SQCh. 5 - Prob. 6SQCh. 5 - Prob. 7SQCh. 5 - Prob. 8SQCh. 5 - Prob. 9SQCh. 5 - Prob. 10SQCh. 5 - Prob. 11SQCh. 5 - Prob. 12SQCh. 5 - Prob. 13SQCh. 5 - Prob. 14SQCh. 5 - Prob. 15SQCh. 5 - Prob. 16SQCh. 5 - Prob. 17SQCh. 5 - Prob. 18SQCh. 5 - Prob. 19SQCh. 5 - Prob. 20SQ
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