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

question 251

Multiple Choice

Table 12-18
$\begin{array}{|c|c|c|c|c|}\hline & 2013 & & 2018 & \\\hline \text { Product } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Camera } & 100 & \$ 10 & 120 & \$ 12 \\\hline \text { Legal services } & 50 & 15 & 45 & 20 \\\hline \text { Books } & 200 & 40 & 210 & 45 \\\hline\end{array}$ A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2013 and 2018 are shown in the table above.
-Refer to Table 12-18.What is the GDP deflator in 2018 if 2018 is the base year?

• A) 120
• B) 118
• C) 100
• D) 87

Identify the role of significant scientific discoveries and inventions in shaping modern society.

Acknowledge the tension between technological progress and environmental sustainability.

Recognize the influence of corporations and governments on technological development.

Comprehend the societal responses to technological disasters and their broader implications.

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