Suppose Rob, an avid golfer, spent a total of $3000 on green fees for the 100 rounds of golf he played in 2018 and a total of $2800 on green fees for the 100 rounds of golf he played (on the same courses) in 2019. Rob's nominal consumption of golf in 2019 was _____ his nominal consumption level in 2018 and his real consumption of golf in 2019 was _____ his real consumption level in 2018.

Suppose Rob, an avid golfer, spent a total of $3000 on green fees for the 100 rounds of golf he played in 2018 and a total of $2800 on green fees for the 100 rounds of golf he played (on the same courses) in 2019. Rob's nominal consumption of golf in 2019 was _ his nominal consumption level in 2018 and his real consumption of golf in 2019 was _ his real consumption level in 2018.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter10: Keynesian Macroeconomics And Economic Instability: A Critique Of The Self Regulating Economy

Section: Chapter Questions

Problem 10QP

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