Question

/>Please help suppose that in 1984 the total output in a single good economy was 10000 buckets of chicken also assume that in 1984 each bucket of chicken was priced at $10 finally assume that in 2005 the price per bucket of chicken $20 and that 22,000 buckets were produced.
what is the gdp price index for 1984 using 2005 as the base year
by what percentage did the price level as measured by this index rise between 1984 and 2005
what were the amounts of real gdp in 1984 and 2005 ATTACHMENT PREVIEW Download attachmentmedia_89a_89aa1829-3d66-4310-8e3c-bc7d1d548dab_image.pngCh
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Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken. Also assume that in 1984 each bucket
of chicken was priced at $10. Finally, assume that in 2005 the price per bucket of chicken was $20 and that 22,000 buckets were
produced.
points
Instructions: In part a, enter your answer as an index number rounded to 1 decimal place. In parts b-c, enter your answers as whole
numbers.
a. What is the GDP price index for 1984, using 2005 as the base year?
Book
Print
References
b. By what percentage did the price level, as measured by this index, rise between 1984 and 2005?
percent
c. What were the amounts of real GDP in 1984 and 2005?
In 1984, real GDP =
In 2005, real GDP =
Mc
Grow
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