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?
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
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