The Republic of Venturilla produces three goods: coffee, water and wine. Below is a table showing prices and quantities of output for three years: Year Price of Coffee Coffee Price of Water Water Price of Wine Wine 2017 $10 100 $2500 $ 12 120 2018 $14 150 $3 400 $15 110 2019 $12 175 $4 300 $15 100 1 Calculate economic growth (% A in real GDP) between 2018 and 2019 2 Calculate inflation between 2017 and 2018.

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
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The Republic of Venturilla produces three goods: coffee, water and wine. Below is a table showing prices and quantities
of output for three years: Year Price of Coffee Coffee Price of Water Water Price of Wine Wine 2017 $10 100 $2500 $
12 120 2018 $14 150 $3 400 $15 110 2019 $12 175 $4 300 $15 100 1 Calculate economic growth (% A in real GDP)
between 2018 and 2019 2 Calculate inflation between 2017 and 2018.
Transcribed Image Text:The Republic of Venturilla produces three goods: coffee, water and wine. Below is a table showing prices and quantities of output for three years: Year Price of Coffee Coffee Price of Water Water Price of Wine Wine 2017 $10 100 $2500 $ 12 120 2018 $14 150 $3 400 $15 110 2019 $12 175 $4 300 $15 100 1 Calculate economic growth (% A in real GDP) between 2018 and 2019 2 Calculate inflation between 2017 and 2018.
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