Question 1
Refer to the information provided in Table 21.10 below to answer the question(s) that follow.
Refer to Table 21.10. Assume that this economy produces only two goods Good
X and Good
Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is
◦ 84.5.
◦ 92.4.
◦ 105.0.
◦ 108.2.
Question 2
Refer to the information provided in Table 21.10 below to answer the question(s) that follow.
Refer to Table 21.10. Assume that this economy produces only two goods Good
X and Good
Y. If year 2 is the base year, the value for this economy's real GDP in year 3 is
◦ $270.
◦ $178.
◦ $156.
◦ $132.