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If a country only produces 3 products, then the following are the conditions of income earned by the country: 2019 2020 Product 2021 Q (Unit)
If a country only produces 3 products, then the following are the conditions of income earned by the country: 2019 2020 Product 2021 Q (Unit) P ($) Q (Unit) P ($) Q (Unit) P ($) A 1000 1 1200 1,2 1250 1.5 B 2000 0.5 2300 0.8 2350 1 C 3000 2 3100 2.1 3200 2.5 Question: a. What will be nominal GDP in 2019, 2020 and 2021? b. What is the real GDP value in 2019, 2020 and 2021, if 2019 was the base year?2. It is known that the condition of the population of working age (> 15 years) in a country is 123,500,999 people. Of the total working age, only 121,950,000 people are included in the workforce. The population who has a job is 121.7 million people and those who don't have a job are 13,250,000 people. Question: a. What is the open unemployment rate? b. What is the labor force participation rate
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