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Question 1

The tables below shows data on prices and quantities of Apples and Jeans produced in the US.

Data for 2014

Price of ApplesQuantity of ApplesPrice of JeansQuantity of Jeans
0.814019210

Data for 2015

Price of ApplesQuantity of ApplesPrice of JeansQuantity of Jeans
0.711015250

Data for 2016

Price of ApplesQuantity of ApplesPrice of JeansQuantity of Jeans
1.129015320

Given this data, what is the Nominal GDP in 2014?

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Question 2

Given this data, what is the Nominal GDP in 2015?

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Question 3

Given this data, what is Nominal GDP in 2016?

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Question 4

Using 2015 as the base year, what is the Real GDP in 2014?

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Question 5

Using 2015 as the base year, what is the Real GDP in 2016?

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Question 6

Using 2015 as the base year, what is the GDP Deflator in 2014?

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Question 7

Using 2015 as the base year, what is GDP Deflator in 2015?

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Question 8

Using 2015 as the base year, what is the GDP Deflator in 2016?

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Question 9

Using 2015 as the base year, what is the growth rate of the nominal GDP between 2014 to 2015?

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Question 10

Using 2015 as the base year, what is the growth rate of nominal GDP between 2015 to 2016?

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Question 11

Using 2015 as the base year, what is the growth rate of real GDP between 2014 to 2015?

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Question 12

Using 2015 as the base year, what is the growth rate of real GDP between 2015 to 2016?

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Question 13

Using 2015 as the base year, what is the growth rate of the GDP deflator (also know as inflation rate) between 2014 to 2015?

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Question 14

Using 2015 as the base year, what is the growth rate of the GDP deflator (also know as inflation rate) between 2015 to 2016?

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