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Please find the correct values of e, f, g, and h. The data in the table below show the total output (a mixture of consumer,
Please find the correct values of e, f, g, and h.
The data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each product for the distant country of Vindaloo. (All figures are in billions and the base year is 2018.) a. Complete the table below. 1 2 4 5 5 6 7 8 9 10 11 12 2019 2020 3 2018 2018 Prices 2019 Item Qty Qty 32 Nominal GDP $ 256 Qty 36 Prices $9 Nominal GDP $ 324 Real GDP 288 2020 Prices $10 Nominal GDP $ 4ee Real GDP 320 Pizzas $8 $ 40 $ Movie tickets 22 6 132 24 8 192 144 26 8 208 156 Farm tractors 4 105 420 5 95 475 525 6 110 660 630 loloo 6 4e 240 7 7 50 350 280 4 60 240 160 Parking meters Totals 1048 1341 1237 1508 1266 b. The value of nominal GDP in 2018 is $1048, in 2019 is $ 1341 . and in 2020 is $ 1508 c. The value of real GDP in 2018 is $ 1048 , in 2019 is $ in 2019 is $ 1237 and in 2020 is $ 1266 d. The value of the GDP deflator in 2018 is 100 100. in 2019 is 108.4 , and in 2020 is 119.1. Answer to one decimal place. e. The inflation rate (using the GDP deflator) in 2019 is 8.4 % and 2020 is 9.8 %. Answer to one decimal place. f. Suppose that the representative consumer in Vindaloo buys 5 units of each consumer good. In this case the cost of the bundle in 2018 is $ 795 795 in 2019 is $810, and in 2020 is $ 940 g. Converting the cost of each bundle into a consumer price Index and using 2018 as the base year, what is the value of index in each year? The value of the index in 2018 is 100 100. in 2019 is 101.9 and in 2020 is 118.2 * Answer to one decimal place. h. Using this price index, the inflation rate in 2019 is 1.9 % and in 2020 is 13.7 Answer to one decimal placeStep by Step Solution
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