Fruitland has a very simple economy: it produces just apples and oranges. It has no imports and exports. Fruitland has a very simple economy: it produces just apples and oranges. It has no imports and exportsApplesOrangesQuantity in year 1Price in year IQuantity in year 2Price in year 250100$1.00$0.8080120$1.25$1.60 Hence calculate to one decimal place the percentage change in the GDP deflator between period 1 and period 2.Do not include the percentage sign in your answer!Answer:

GDP Deflator is the ratio of nominal GDP to real GDP. GDP deflator of a base year is always 100.

Answered: Hence calculate to one decimal place…

Hence calculate to one decimal place the percentage change in the GDP deflator between period 1 and period 2. Do not include the percentage sign in your answer! Answer:

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter6: How Statisticians Measure Inflation

Section6.A: How Statisticians Measure Inflation

Problem 2TY

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Fruitland has a very simple economy: it produces just apples and oranges. It has no imports and exports.

Hence calculate to one decimal place the percentage change in the GDP deflator between period 1 and period 2.
Do not include the percentage sign in your answer!
Answer:

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