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2. Consider the economy in the Table and answer questions (a)-(f) in below: 2020 2021 Percentage Change Quantity of Good 1 12 16 Quantity of

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2. Consider the economy in the Table and answer questions (a)-(f) in below: 2020 2021 Percentage Change Quantity of Good 1 12 16 Quantity of Good 2 13 7 ? Quantity of Good 3 5 9 ? Price of Good 1 18 24 ? Price of Good 2 60 75 ? Price of Good 3 82 65 ? Nominal GDP ? ? ? Real GDP in 2020 prices ? ? ? Real GDP in 2021 prices ? ? ? (a) Compute the value of Nominal GDP, Real GDP in 2020 prices, and Real GDP in 2021 prices. (Show every step of all calculations) (b) What is the percentage change in real GDP between 2020 and 2021 if we use the Laspeyres index? (Show every step of all calculations) (c) What is the percentage change in real GDP between 2020 and 2021 if we use the Paasche index? (Show every step of all calculations) (d) Draw the table and fill it out. I (e) What is the percentage change in real GDP between 2020 and 2021 if we use the Fisher index? (Show every step of all calculations) (f) What is the level of real chain-weighted GDP in 2020 and 2021, benchmarked to 2019? (Show every step of all calculations)

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