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AP Macroeconomics Mea 1 J Calculate Real Gdp and the Gdp Deflator Questions

Calculate real GDP and the GDP deflator from nominal output, base-year prices, and current quantities in reported macroeconomic data.

Syllabus
Effective Fall 2022
Course
AP Macroeconomics

Exam points

  • calculate real GDP by valuing current quantities at base-year prices
  • convert nominal GDP to real GDP using the GDP deflator
  • calculate the GDP deflator as nominal GDP divided by real GDP times 100
  • calculate and compare nominal GDP, real GDP and the GDP deflator from one data set
  • separate real-output growth from price-level change using nominal, real and deflator data

AP Macroeconomics Mea 1 J Calculate Real Gdp and the Gdp Deflator Questions question 1

[Maximum number: 1]

The table provided shows the quantities and unit prices of shirts, bread, and pants, the only three goods produced in the country of Middleland in 2021 and 2022. Assume that 2021 was the base year.

Table for Question AP Macroeconomics Mea 1 J Calculate Real Gdp and the Gdp Deflator Questions question 1 — AP Macroeconomics

Calculate the real GDP in Middleland in 2022. Show your work.

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