The table represents the economy of Frutopia. Apples and orange juice are purchased by the people. Each month, 100 orang

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The Table Represents The Economy Of Frutopia Apples And Orange Juice Are Purchased By The People Each Month 100 Orang 1 (49.97 KiB) Viewed 24 times

The table represents the economy of Frutopia. Apples and orange juice are purchased by the people. Each month, 100 oranges are sold to the producer of orange juice to make said orange juice; the rest are purchased by people. The producer buys juice-ware which is a machine that uses the 100 oranges to make the juice. In a typical month, a consumer will purchase 5 apples, 2 oranges, and 2 orange juices. When necessary, use February as your base period. January February March Price Apples $2 $2 $1 Oranges Quantity Price 100 120 120 $4 $4 $3 Orange Juice Quantity Price 200 220 240 $5 $6 $6 Juice-ware Quantity Price Quantity 50 $10 50 $20 70 $40 Calculate real GDP for January: $1400 Calculate GDP deflator for March to two decimal places: 88.76 Calculate the growth in GDP from January to February to two decimal places: Calculate the basket cost for March: $ Calculate the CPI for March to two decimal places: Calculate inflation from February to March to two decimal places: 5 % 5 When answering, do not use commas or percent signs. For example, 87,000 would be 87000. For example, 5.468 % would be 5.47 Calculate nominal GDP for March: $1580 8 %