Table 12-18 A Very Simple Economy Produces Three Goods: Cameras, Legal Services

question 6

Multiple Choice

Table 12-18
$$\begin{array} { | l | c | r | r | r | } \hline & { \mathbf { 2 0 0 8 } } & & { \mathbf { 2 0 1 3 } } & \\\hline \text { Product } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Camera } & 100 & \$ 10 & 120 & \$ 12 \\\hline \text { Legal services } & 50 & 15 & 45 & 20 \\\hline \text { Books } & 200 & 40 & 210 & 45 \\\hline\end{array}$$
A very simple economy produces three goods: cameras, legal services, and books.The quantities produced and their corresponding prices for 2008 and 2013 are shown in the table above.
-Refer to Table 12-18.What is the GDP deflator in 2008 if 2013 is the base year?

• A)187
• B)87
• C)8.7
• D)0.87

Understand wire gauge sizes and their implications for electrical systems.

Define voltage and its equivalent terms in electrical contexts.

Explain the concept of an atomic number and how it differentiates elements.

Describe the characteristics and behavior of electrons within an atom.

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Definitions:

Random Variable X

A variable whose possible values are numerical outcomes of a random phenomenon.

Number Of Children

The count of offspring a person or population has.

Probability Model

A mathematical representation that defines the likelihood of various outcomes in a random process.

Fair Die

A die that has an equal chance of landing on any of its faces when thrown.