Hello, I'm really confused about this question. It's all one question; I posted multiple screenshots to get the entire question.
Year Price Quantity Price Quantity (beach (sunglasses) (sunglasses) (beach towels) towels) 2004 $18 77 $12 91 2005 $30 96 $13 109 2006 $35 105 $16 140 Using the above data, calculate real GDP for 2004, 2005, and 2006 using the chain-weighted method. 2004 is the base year. The steps are shown on the left. Type your answers on the right in the boxes provided. All answers should be rounded to 2 decimal places. Nominal GDP $ 2004 = Real GDP2004 = $ Step 1: Nominal GDP 2004 = $ The value of 2005 production at 2004 prices = $ Step 1 growth rate = D% Step 2: The value of 2004 production at 2005 prices = $ Nominal GDP2005 = $|: Year Price Quantity Price Quantity (beach (sunglasses) (sunglasses) (beach towels) towels) 2004 $18 77 $12 91 2005 $30 96 $13 109 2006 $35 105 $16 140 Using the above data, calculate real GDP for 2004, 2005, and 2006 using the chain-weighted method. 2004 is the base year. The steps are shown on the left. Type your answers on the right in the boxes provided. All answers should be rounded to 2 decimal places. Step 2 growth rate = % Step 3: Average growth rate = % Step 4: Real GDP2005 = $ vtattn-tn-n-Irw1:thanattttttwwnnnnwntttwtttw Step 1 : Nominal GDP $ 2005 = The value of 2006 production at 2005 prices = $ Step 1 growth rate = % Year Price Quantity Price Quantity (beach (sunglasses) (sunglasses) (beach towels) towels) 2004 $18 77 $12 91 2005 $30 96 $13 1 09 2006 $35 105 $16 140 Using the above data, calculate real GDP for 2004, 2005, and 2006 using the chain-weighted method. 2004 is the base year. The steps are shown on the left. Type your answers on the right in the boxes provided. All answers should be rounded to 2 decimal places. The value of 2006 production at 2005 prices = $E| Step 1 growth rate = :|% Step 2: The value of 2005 production at 2006 prices = $:| Nominal GDP2006 = $|j Step 2 growth rate = :|% Step 3: Average growth rate = :|% Step 4: Real GDP2006 = $E|