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Below are the characteristics of the country of Macro: 2018 2019 2020 Item Quantity Price Quantity Price Quantity Price Hamburgers 2,000 $3.00 5,000 $4.00 3,000
Below are the characteristics of the country of Macro:
2018 | 2019 | 2020 | ||||
Item | Quantity | Price | Quantity | Price | Quantity | Price |
Hamburgers | 2,000 | $3.00 | 5,000 | $4.00 | 3,000 | $5.00 |
Hot Dogs | 2,000 | $2.00 | 2,500 | $4.00 | 5,000 | $5.00 |
Buns | 4,000 | $1.50 | 7,000 | $2.00 | 7,500 | $2.50 |
Ketchup | 100 | $0.50 | 200 | $0.75 | 500 | $1.00 |
Mustard | 200 | $0.75 | 400 | $1.00 | 1000 | $1.25 |
Using 2018 as the base year, compute the following:
1) Nominal GDP for 2018, 2019 and 2020
2)Real GDP for 2019 and 2020
3)GDP Deflator for 2019 and 2020
4)CPI for 2019 and 2020
5Percent growth of GDP Deflator & CPI from 2018-2019, 2019-2020)
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