HW_chap_17[1]

# HW_chap_17[1] - Econ 100 San Francisco State HW Chapter 17...

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San Francisco State HW Chapter 17 You do not need to turn this problem in to me, but you can assume that there will be problems very similar to it in either a quiz or an exam. It would greatly benefit your to do it. 1) Here is some information about an economy: 2006 2007 # of books purchased 10 11 Price of books \$10.50 \$9.50 # of movies purchased 5 10 Price of movies \$15 \$12 # of pizzas purchased 30 20 Price per pizza \$18 \$22 # of industrial pizza making machines purchases 2 1 Price per industrial pizza making machine \$100 \$150 a) Using 2006 as a base year, calculate nominal and real GDP for each year. b) Calculate the GDP inflator for each year: c) Using the GDP deflator, what was the change in the price level? d) Using 2006 as a base year, calculate nominal and real consumption for each year. e) Use the information from question (d) to calculate the PCE deflator for each year. f)

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HW_chap_17[1] - Econ 100 San Francisco State HW Chapter 17...

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