Economics 1

Year Units of X Price of X Units of Y Price of Y Nominal in $ Real GDP (Base in$ Real GDP Base GDP year is 2010) year is 2012) 2010 10 20 2011 20 8 15 2012 5 10 2 a) Calculate the NGDP for the three years b) Calculate the RGDP when the base year is 2010 and when base year is 2012 c) Compare between RGDP in2012 and RGDP in2010 QUESTION THREE Year Employed Unemployed Labor Force Unemployment rate 2010 60000 100000 2011 40000 120000 2012 80000 20000