For Question From 38 To 42 Consider The Following Data For Bacon County Georgia An Area That Produces Only Two Produc 1 (96.08 KiB) Viewed 88 times
For Question from 38 to 42, consider the following data for Bacon County, Georgia, an area that produces only two products: firewood and cattle. Firewood Price of Cattle Price of Year Produced Firewood Produced Cattle 2007 5 40 4 2017 90 6 60 10 The nominal GDP in 2017 in Bacon County is: 80 760 1450 420 1140 Question 39 Real GDP for Bacon County for 2017 using 2007 as the base year equals 560 1450 olololo 690 420
What is the GDP deflator in 2017, using 2007 as the base year? 73.68 126.19 131.825 165.22 Question 41 If the GDP deflator rises from 135 to 140, what is the rate of inflation between the two years? 3.57% 5% 3.7% 2.5% Question 42 Assume the average annual CPI values for 2010 and 2014 were 225 and 256, respectively. What was the inflation rate for 2014 according to the CPI? 15.6% 12.1 13.8% 31.0%
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