Consider the Following Data That Gives the Quantity Produced and Unit

Multiple Choice

Consider the following data that gives the quantity produced and unit price for three different goodsacross two different years to answer the next questions. Assume that the base year is 2012
$$\begin{array} { l l c l l } \hline \text { Good } & \text { 2012 Price } & \text { 2012 Quantity } & \text { 2013 Price } & \text { 2013 Quantity } \\\hline \text { A } & \$ 2.00 & 500 & \$ 2.50 & 600 \\\text { B } & \$ 4.00 & 1,000 & \$ 5.00 & 900 \\\text { C } & \$ 2.00 & 200 & \$ 1.00 & 300 \\\hline\end{array}$$

-What was the gross domestic product GDP) deflator in 2012?

A) 100
B) 108
C) 103 $\begin{array} { l l l } \text { ANS: A } & \text { DIF: Difficult } & \text { REF: Real GDP: Adjusting GDP for Price Changes } \\ \text { OBJ: } 6.3 & \text { MSC: Analyzing } & \end{array}$
What was the gross domestic product (GDP) deflator in 2013 ?
a. 116.67 $\quad$ d. 119.44
b. 108.57 $\quad$ c. 100
e. 102.38
$\begin{array} { l l l } \text { ANS: A } & \text { DIF: Difficult } & \text { REF: Real GDP: Adjusting GDP for Price Changes } \\ \text { OBJ: } 6.3 & \text { MSC: Analyzing } & \end{array}$
D) 109
E) 106