meger.)
Using the prices for 2012 as the set of common prices, real GDP, in 2013 is $57100. (Enter your response as an integer.)
Using the prices for 2012 as the set of common prices, the percentage change in real GDP from 2012 to 2013 is 25.49 percent. (Round your response to two decimal places.)
Using the prices for 2013 as the set of common prices, real GDP in 2012 is $63500. (Enter your response as an integer.)
Using the prices for 2013 as the set of common prices, real GDP in 2013 is $77600. (Enter your response as an integer.)
Using the prices for 2013 as the set of common prices, the percentage change in real GDP from 2012 to 2013 is 22.20 percent. (Round your response to two decimal places.)
Using 2012 or 2013 as the set of common prices, you found different rates of change (percentage changes) in real GDP.
Which one is correct? What can you say about these different findings?
A. The calculation using prices from 2012 is correct because we want to use the older set of prices for more accuracy.
B. We want to use the set of prices for the more stable year, so with the information given, we cannot determine which calculation is more correct.
C. The calculation using prices from 2013 is correct because we want to use the newer set of prices for more accuracy.
D. Neither is more correct than the other-they just use different units.
integer.)
KK integer.) Using the prices for 2012 as the set of common prices, real GDP in 2013 is $57100.(Enter your response as an Using the prices for 2012 as the set of common prices, the percentage change in real GDP from 2012 to 2013 is25.49 percent.(Round your response to two decimal places. integer.) Using the prices for 2013 as the set of common prices, real GDP in 2012 is $ 63500 . (Enter your response as an integer.) Using the prices for 2013 as the set of common prices, real GDP in 2013 is $77600- (Enter your response as an
percent.(Round your response to two decimal places. Using 2012 or 2013 as the set of common prices, you found different rates of change (percentage changes) in real GDP. Which one is correct? What can you say about these different findings? O A.The calculation using prices from 2012 is correct because we want to use the older set of prices for more accuracy. O B.We want to use the set of prices for the more stable year, so with the information given, we cannot determine which calculation is more correct. In O c.The calculation using prices from 2013 is correct because we want to use the newer set of prices for more accuracy. O D.Neither is more correct than the otherthey just use different units.