Consider the Following Data That Gives the Quantity Produced and Unit

question 122

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

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Definitions:

Kelley's Terminology

Refers to concepts and nomenclature introduced by psychologist Harold Kelley, particularly in relation to attribution theory.

Distinctiveness Information

Information that highlights how an object, individual, or event is different from others, enhancing memory and perception.

Internal Cause

An explanation of behavior or events attributing to factors within a person such as personal decisions, efforts, or characteristics.

External Cause

Factors outside an individual that can lead to certain outcomes or effects.