Table 23-1 The Country of Batavia Produces Only Chocolates and Watches.Below Is

question 94

Essay

Table 23-1
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 23-1.
What was nominal GDP,real GDP,and the GDP deflator for 2011? Show your work.

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Definitions:

Residual Value

The estimated value of an asset at the end of its useful life, reflecting what the asset is expected to be worth after it has been fully depreciated.

Useful Life

The estimated duration a tangible or intangible asset is expected to be utilized in operations before it is no longer useful.

Carrying Amount

The value of an asset or liability as recorded in a company's books, reflecting its cost minus any depreciation or amortization.