The table below shows total output for an economy over 2 years. 2014 Price Quantity coconuts bananas $1.00 100 units $3.00 $6.00 200 units pineapples 100 units 2015 Price Quantity $2.00 $4.00 $8.00 coconuts 120 bananas 200 pineapples 90

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 4PA
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The table below shows total output for an economy over 2 years.
2014
Price
Quantity
$1.00
$3.00
$6.00
coconuts
100 units
bananas
200 units
pineapples
100 units
2015
Price
Quantity
$2.00
$4.00
$8.00
coconuts
120
bananas
200
pineapples
90
TABLE 20-8
Refer to Table 20-8. The implicit GDP deflator in 2015 (using 2015 as the base year)
is
O A) 100.
B) 71.59.
C) 139.7.
O D) 103.4.
E) 114.6.
Transcribed Image Text:The table below shows total output for an economy over 2 years. 2014 Price Quantity $1.00 $3.00 $6.00 coconuts 100 units bananas 200 units pineapples 100 units 2015 Price Quantity $2.00 $4.00 $8.00 coconuts 120 bananas 200 pineapples 90 TABLE 20-8 Refer to Table 20-8. The implicit GDP deflator in 2015 (using 2015 as the base year) is O A) 100. B) 71.59. C) 139.7. O D) 103.4. E) 114.6.
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