Author Question: Refer to Table 9-7. Suppose that the data in the table above reflect price levels in the economy. ... (Read 119 times)

ts19998 · **on:** Jun 29, 2018

Refer to Table 9-7. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2015 and 2016?

A) 2.9 B) 3.5 C) 4.6 D) 5 E) 7.5

Question 2

Refer to Table 8-2. Suppose that a simple economy produces only four goods and services: shoes, DVDs, tomatoes, and ketchup.

Assume one half of the tomatoes are used in making the ketchup and the other half of the tomatoes are purchased by households. Using the information in the above table, nominal GDP for this simple economy equals
A) 7,400. B) 6,400. C) 5,800. D) 2,440 units.