Table 8-18 a Very Simple Economy Produces Three Goods: Cameras,legal

question 260

Multiple Choice

Table 8-18
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 8-18.What is the GDP deflator in 2008 if 2013 is the base year?

• A)187
• B)87
• C)8.7
• D)0.87

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Definitions:

Technological Change

Innovations in the way goods or services are produced, delivered, or utilized, often leading to efficiency gains or new capabilities.

Absenteeism

Refers to the consistent absence of an employee from their job without a valid reason, which can impact productivity and morale.

Team Viability

Refers to a team’s capacity for sustained success and maintaining effective performance over time.

Member Satisfaction

The degree to which the expectations and needs of a member of a group or organization are fulfilled.