Principles of Macroeconomics
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| Year 2005 | Year 2006 | ||
Item | Quantity | Price (per unit) | Quantity | Price (per unit) |
Pizza
| 1,000 | $10 | 1,200 | $15 |
Lemonade
| 5,000 | $2 | 6,000 | $2 |
Table 1
6. Table 1 above gives the production and prices for a small nation that produces only pizza and lemonade. The base year is 2005. What is real GDP in 2006?
A. $20,000
B. $24,000
C. $25,000
D. $30,000
11. The data in Table 2 above shows the consumption by families in an economy. The year 2009 is the base year. What is the CPI for 2010?
Item | Quantity (2009) | Price per unit (2009) | Quantity (2010) | Price per unit (2010) |
Magazines | 400 | $5.00 | 400 | $4.50 |
Movie tickets | 50 | $6.00 | 50 | $8.00 |
A. 95.65
B. 100
C. 220
D. 104.55
E. 230
9 years ago
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