Compute for Nominal and Real GDP

Ill. Nominal and Real GDP Computations Nominal and Real GDP Computations: Data below represents the GDP in three (3) year Period of Country A. Determine the nominal GDP for all three years. Use year 1 as the base year and compute for the real GDP of Year 2 & 3 Use year 2 as the base year and compute for the Real GDP of Year 3 NOTE: 1 TON = 1000Kg Price Quantity Price Quantity Price Products Quantity Year 1 Year 1 Year 2 Year 2 Year 3 Year 3 Washing 100 3500/unit 86 units 3500/unit 72 units 3500/unit Machines units 120 Radio 1500/unit 500 units 1350/unit 800 units 2000/unit units 1000 1350 1230 Wall Clocks 810.50/unit 920/unit 725/unit units units units 2000 4000 4300 Printers 5,000/unit 7,000/unit 3,500/unit units units units Banana 500 tons 35.00/kilo 750 tons 35.00/kilo 625 tons 25.00/kilo 2500 2000 2000 Refrigerators 13,000/unit 12,000/unit 12,500/unit units units units Rice 150 tons 44.75/kilo 200 tons 37.50/kilo 300 tons 35.50/kilo Vegetables 230 tons 24.75/kilo 100 tons 27.75/kilo 200 tons 30.00/kilo Pork 120 tons 225/kilo 140 tons 250/kilo 140 tons 225/kilo Chicken 115 tons 240/kilo 120 tons 210.00/kilo 150 tons 210.00/kilo