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4: Comprel X Study Guide x + zto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEP... aler https://portal.cnh.c... SRME Central Sales Department -... M Macdon CaselH Bourgault LifeWorks THE Community Invest... 2 ADP & Hippo Facility Main.. : Comprehensive Problem i Saved Help Save & E The data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each product for the distant country of Vindaloo. (All figures are in billions and the base year is 2018.) a. Complete the table below. 10 2018 2019 2020 2018 2019 2020 Item Qty Prices Nominal GDP Qty Prices Nominal GDP Real GDP Qty Prices Nominal GDP Real GDP Pizzas 32 $8 36 $9 40 $10 $ Movie tickets 22 24 8 26 Farm tractors 105 5 95 6 116 Parking meters 40 50 60 Totals b. The value of nominal GDP in 2018 is $ in 2019 is $ 1, and in 2020 is $ Ices c. The value of real GDP in 2018 is $ . in 2019 is $ , and in 2020 is $[ d. The value of the GDP deflator in 2018 is , in 2019 is, and in 2020 is[ Answer to one decimal place. e. The inflation rate (using the GDP deflator) in 2019 is% and 2020 is [%. Answer to one decimal place. f. Suppose that the representative consumer in Vindaloo buys 5 units of each consumer good. In this case the cost of the bundle in 2018 is $ , in 2019 is $[ , and in 2020 is $[ g. Converting the cost of each bundle into a consumer price index and using 2018 as the base year, what is the value of index in each year? The value of the index in 2018 is , in 2019 is and in 2020 is . Answer to one decimal place. h. Using this price index, the inflation rate in 2019 is [ % and in 2020 is %. Answer to one decimal place. Prey. 1 of 1 Next > here to search