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The value of the gross domestic product (GDP) deflator in 2011 based on the given information is 110.
<h3>What is the GDP Deflator?</h3>
The GDP deflator is a ratio of the Nominal GDP (current year prices) over Real GDP (base year prices).
The GDP deflator is used to measure inflation as it shows the change in the current prices compared to the base year's prices.
The GDP deflator can be computed as Nominal GDP/Real GDP x 100.
<h3>Data and Calculations:</h3>
Year Nominal GDP Real GDP GDP Deflator
2009 $500 100
2010 $551.2 106
2011 $600.6 $546
2012 ________ $600.6 120
GDP Deflator = Nominal GDP/Real GDP x 100
2011 GDP Deflator = 110 ($600.60/$546 x 100)
Thus, the value of the gross domestic product (GDP) deflator in 2011 based on the given information is 110.
Learn more about the gross domestic product (GDP) deflator at brainly.com/question/13505890
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A specific task will likely raise more tax revenue if the
demand curve is inelastic in which the demand is likely to be insensitive in
regards to change and by that, the tax incidence will likely result of being
lowered. The correct answer is letter e.
Answer: a.do not violate the law of demand because your preference for the product changed after you experienced the good.
Explanation:
Tastes and preferences are one of the determinants of demand. The way a person feels about a product can determine if they want more of it or less and this therefore affects demand for products.
You <em>preferred</em> the Uber ride to driving yourself and so were willing to pay more for it so the law of demand was not violated.
Plant-like protists, such as algae produce their own food bur are unable to move on their own.