The following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Dollars) Year 2010 100 2011 104 2012 103 2013 106 2014 109 2015 112 2016 111 2017 110 Which years are peaks?

The following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Dollars) Year 2010 100 2011 104 2012 103 2013 106 2014 109 2015 112 2016 111 2017 110 Which years are peaks?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 7PA

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Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.

Question

Answer the attached question

The following table gives real GDP for a small economy going through a business cycle.
Real GDP
(2009
Dollars)
Year
2010
100
2011
104
2012
103
2013
106
2014
109
2015
112
2016
111
2017
110
Which years are peaks?

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