View the step-by-step solution to:

Question

# This problem uses the table on the following page.Fill in the calculations for the blank

cells. There is a two-point deduction for each of the first three errors, and a one-point deduction for each error thereafter. No more than 5 points can be lost on any column. All calculations involving indices must be correctly rounded to four decimal places.

4. (10 points total)
This problem uses the table on the following page.
Year 2
Year 3
Fill in the calculations for the blank cells. There is a two-point deduction for
1. Prices
each of the first three errors, and a one-point deduction for each error thereafter.
a. Computer Disks
\$5
\$4
No more than 5 points can be lost on any column. All calculations involving
b. Prescription Drugs
\$2
\$1.50
indices must be correctly rounded to four decimal places.
2. Quantities
a. Computer Disks
800
1000
b. Prescription Drugs
300
500
3. Current-dollar expenditures
a. Computer Disks
b. Prescription Drugs
c. Total: Nominal GDP
4. Constant-dollar expenditures each year
a. At fixed year 2 prices
b. At fixed year 3 prices
5. Expenditures each year
a. At fixed year 2 quantities
b. At fixed year 3 quantities
6. Real GDP (index, year 1=1.0000)
a. At fixed year 2 prices
3.8011
b. At fixed year 3 prices
3.8011
C. Chain-weighted index
3.8011
7. GDP Deflator (index, year 1=1.0000)
a. At fixed year 2 quantities
_0.4654
b. At fixed year 3 quantities
0.4654

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents