Quantity of Apples Price of Apples Quantity of Jeans Price of Jeans2015 16 $8 7 $14What is the GDP deflator for 2015?

The GDP deflator is a measure of the price level of all domestically produced final goods and services in an economy. It is calculated as:

GDP Deflator = (Nominal GDP / Real GDP) * 100

However, in your question, you've only provided quantities and prices for two goods (apples and jeans) for one year (2015). To calculate the GDP deflator, we would need to know the nominal GDP and real GDP for that year.

If we assume that the quantities and prices you've provided are the only components of this economy's GDP, we can calculate a simplified GDP deflator as follows:

Step 1: Calculate the nominal GDP for 2015. This is done by multiplying the quantity of each good by its price, and then adding these values together.

Nominal GDP = (Quantity of Apples * Price of Apples) + (Quantity of Jeans * Price of Jeans) Nominal GDP = (16 * $8) + (7 *$14) Nominal GDP = $128 +$98 Nominal GDP = $226

Step 2: Calculate the real GDP for 2015. In this case, since we don't have a base year to compare to, we can assume that the real GDP is the same as the nominal GDP. So, Real GDP = $226.

Step 3: Calculate the GDP deflator.

GDP Deflator = (Nominal GDP / Real GDP) * 100 GDP Deflator = ($226 /$226) * 100 GDP Deflator = 100

So, in this simplified example, the GDP deflator for 2015 would be 100. However, please note that this is a very simplified example and the actual calculation of the GDP deflator in a real-world economy would be much more complex.