Table 12-21 $\quad$ $\quad$ $\quad$

question 185

Essay

Table 12-21
$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $2013$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $2017$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$2018$
$\begin{array}{|l|r|l|r|r|r|r|}\hline \text { Product } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { MP3s } & 40 & \$ 250.00 & 45 & \$ 200.00 & 50 & \$ 150.00 \\\hline \text { Tacos } & 2,000 & 2.00 & 2,200 & 2.25 & 2,300 & 2.40 \\\hline \text { Coats } & 300 & 50.00 & 310 & 52.00 & 350 & 55.00 \\\hline\end{array}$
-Refer to Table 12-21.Consider the data above for a simple economy: Using 2013 as the base year,calculate nominal GDP,real GDP,and the GDP deflator for 2018.Show your work.

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Definitions:

Degree of Rivalry

The intensity of competition among existing competitors in a market.

Threat of New Entrants

The potential risk posed by the possibility of new companies entering a market, which can impact the competitive environment and profitability for existing players.

Bargaining Power

The leverage that a party has in negotiations, affecting the terms and conditions of agreements.

Socio-Cultural

Relating to the interaction of social and cultural elements in society, influencing behaviors, values, practices, and institutions.