OA. 120 OB. 118 OC. 100 OD. 87 2019 Product Camera Quantity Price 2022 Quantity Price 100 $10 120 $12 Legal services Books 50 200 15 45 20 40 210 45 A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2019 and 2022 are shown in the table. What is the GDP deflator in 2022 if 2022 is the base year?

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 7QR
icon
Related questions
Question

Give me correct answer with calculation and full explanation otherwise i give downvote

 

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

 

 

OA. 120
OB. 118
OC. 100
OD. 87
Transcribed Image Text:OA. 120 OB. 118 OC. 100 OD. 87
2019
Product
Camera
Quantity
Price
2022
Quantity
Price
100
$10
120
$12
Legal services
Books
50
200
15
45
20
40
210
45
A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2019 and 2022 are
shown in the table.
What is the GDP deflator in 2022 if 2022 is the base year?
Transcribed Image Text:2019 Product Camera Quantity Price 2022 Quantity Price 100 $10 120 $12 Legal services Books 50 200 15 45 20 40 210 45 A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2019 and 2022 are shown in the table. What is the GDP deflator in 2022 if 2022 is the base year?
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
steps

Unlock instant AI solutions

Tap the button
to generate a solution

Similar questions
Recommended textbooks for you
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Macroeconomics: Private and Public Choice (MindTa…
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc