03-02-2009 84123 PM

03-02-2009 84123 PM - The table below shows total output...

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The table below shows total output for an economy over 2 years. 2003 Price Quantity l(jU>X-2 / -^ V^Ot? ^ "^ Good A $1.00 100 units ^ GoodB $2.00 200 units -xx, / i Qo^ Good C $5.00 100 units X*H3 /C 2004 Price Quantity ( o ^0 • Good A $2.00 120 units - r GoodB $3.00 200units \JOO X ' 3~f ( >0b X^ > *f ! Good C $10.00 98 units TABLE 20-1 !%*> ~ '°°° 6) Refer to Table 20-1. The implicit GDP deflator in 2004 was approximately 6) A) 105. B)16er- C)180. D)193. E) 203. 7) 7) /-i A) rental paymentsjjre counted a B) owner-occupied housing is counted as investment by imputing for the value of the housing services enjoyed by the owner. ^ houses built for the government as public housing would count as investment. ^) the cost of a home purchased from its previous occupant is a part of investment. E) residential construction is classified as consumption. 8) The calculation GDP using the expenditure approach includes
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