The Table Below Shows the Total Output and Prices for an Economy

question 38

Multiple Choice

The table below shows the total output and prices for an economy that produces only two goods,potatoes and oil.Data is provided for the years 2008 and 2018. Quantities Produced Prices TABLE 20-6
Refer to Table 20-6.If 2008 is the base year,the GDP deflator in 2018 was

• A)59.1.
• B)85.7.
• C)100.
• D)131.67.
• E)159.1.

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Definitions:

Independent variables

Variables in research that are manipulated or chosen by the researcher to determine their effects on dependent variables.

Dependent Variables

In research, variables whose variation is dependent on that of other variables, commonly used to measure the effect of independent variables.

Long-Run Time Periods

Extended durations during which all factors of production and costs are variable, allowing businesses to make adjustments to achieve optimal production levels.

HR Demand Requirement

The specific needs or requirements for human resources within an organization to meet its business objectives and strategic goals.