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Question 1 (20 points) Topic 1 The followin table rovides the economic data for an econom . Y ear Good 1 Good 2 Good
Question 1 (20 points) Topic 1 The followin table rovides the economic data for an econom . Y ear Good 1 Good 2 Good 3 Good 4 Good 5 Good 6 2017 Price 21 13 6 15 4 uanti 300 300 160 750 95 2018 Price 22 14 7 14 6 10 uanti 360 330 180 650 450 110 2019 Price 25 15 12 5 9 uanti 360 280 170 650 420 100 Here is some additional information about this economy that holds true for all 3 years unless otherwise stated: Unless otherwise stated, the goods are produced within the economy. Good I is a pure consumption good and 40% are purchased from abroad. Half good 2 goes to households, while the remainder of the good is equally split between firms and the government. Firms purchase one-fifth of good 3 while the government consumes 30% of the good. The remainder is bought by households. Of the good 3 purchased by households, one-fifth goes to foreign households while the rest goes to domestic households. Both households and small businesses purchase good 4: 60% goes to households and 40% goes to small businesses. In addition, half of the good 4 consumed by households is produced abroad. All of good 5 is bought by domestic sectors: 30% goes to domestic consumers while the remainder is equally split between firms and the public sector. Half of the good 6 is bought by foreign households. Of the remainder of good 6, 60% is purchased by the government and the rest is bought by firms. The govemment has chosen 2017 as the base year. Based on the information iv co lete the followin table. 2018 2019 Consum tion Investment Government s Ex orts 1m orts Nominal GDP Real GDP GDP deflator CPI Inflation rate Inflation rate endin usin us m GDP deflator CPI 2017 Not Not a licable licable
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