- 4 An Economy Produces Only Two Goods Oranges And Vcrs The Quantities And Prices For The Years 1998 And 1999 Are Shown 1 (549.83 KiB) Viewed 40 times
4. An economy produces only two goods, oranges and VCRs. The quantities and prices for the years 1998 and 1999 are shown
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4. An economy produces only two goods, oranges and VCRs. The quantities and prices for the years 1998 and 1999 are shown
4. An economy produces only two goods, oranges and VCRs. The quantities and prices for the years 1998 and 1999 are shown in the table. The base year is 1998. The rate of inflation in 1999 was about 1998 Price Quantity $2 5,000 $400 1,000 1999 Price Quantity $3 3 4,000 $300 2,000 Oranges VCRS 33 percent o -23.5 percent 67 percent -48 percent