2. Calculate the value of the GDP deflator in 2004.a. 113b. 116c. 119d. 120 *base year is 2003 Price of ballpen (PHP) Quantity of ballpen Price of pencils (PHP) Quantity of pencils Year 2003 3 100 10...

2. Calculate the value of the GDP deflator in 2004.
a. 113
b. 116
c. 119
d. 120

*base year is 2003

Extracted text: Price of ballpen (PHP) Quantity of ballpen Price of pencils (PHP) Quantity of pencils Year 2003 3 100 10 50 2004 3 120 12 70 2005 4 120 14 70