1. Use the data on the economy of Iberia in Table to work Problems 1 and 2.

a. Calculate GDP.

b. Calculate Import of Goods and Services.

2. In Table

2009

2010

a. Calculate Nominal GDP of 2009 and 2010

b. The base year is 2009. Calculate GDP of 2009 and 2010.

c. Calculate percentage?

Items Net Taxes Government expenditure Billing saving Consumption expenditure Investment Exports Amount $20 billion $20 billion $15 billion $67 billion $21 billion $30 billion Item Fish Berries Quantity 100 50 Price $2 $6 Item Fish Berries Quantity 75 65 Price $5 $10