Table 12-26 -Refer to Table 12-26

question 51

Essay

Table 12-26
$$\begin{array} { | l | r | r | } \hline & { \mathbf { 2 0 1 2 } } & { \mathbf { 2 0 1 3 } } \\\hline \text { Nominal GDP } & \$ 10,000 & \$ 15,000 \\\hline \text { Real GDP } & 10,000 & 14,000 \\\hline\end{array}$$
-Refer to Table 12-26.Given the information above,calculate the GDP deflator for both 2012 and 2013.What does the value of the deflator in the year 2012 tell you about that year with respect to the base year? What happened to prices in 2013 as compared to 2012?

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Definitions:

Decentralized Authority

An organizational structure where decision-making and authority are distributed among various levels and departments rather than being concentrated at a central point.

Organic Designs

A flexible and informal approach to organizational structure that aims to promote creativity, empowerment, and adaptability.

Narrow Spans Of Control

An organizational structure where managers supervise a small number of subordinates, allowing for close supervision and more intensive management but potentially leading to longer chains of command and reduced autonomy for workers.

Wider Spans Of Control

A management structure where a single supervisor oversees a larger number of subordinates, promoting autonomy and reducing hierarchical layers.