Essay
Table 23-11
The country of Batavia produces only chocolates and watches. Below is a table with recent information on Batavia production and prices. The base year is 2009.
Prices and Quantities
-Refer to Table 23-11.
What was nominal GDP, real GDP, and the GDP deflator for 2011? Show your work.
Correct Answer:

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Nominal GDP was $6x80 + $65x12...View Answer
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