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Question 1: Consider the table below. Assume 2021 is the base year. Production Import Export Consumption Price $ (2021) Price $ (2022) Good A 120
Question 1: Consider the table below. Assume 2021 is the base year.
Production | Import | Export | Consumption | Price $ (2021) | Price $ (2022) | |
Good A | 120 | 0 | 0 | 120 | 50 | 55 |
Good B | 80 | 0 | 0 | 80 | 45 | 50 |
Good C | 0 | 75 | 0 | 75 | 60 | 65 |
Good D | 50 | 0 | 50 | 0 | 75 | 80 |
Given the information above, calculate the following:
(a) Consumption for 2021 (b) Net export for 2021 (c) Gross Domestic Product for 2021 (d) Consumer Price Index for 2022 The table below provides additional information about the country.
2021 | 2022 | |
Nominal GDP | 17,000 | |
Population | 105 | 125 |
Price Index, CPI | 100 |
Fill in the blank space and then use the table to calculate the following: (e) The Real GDP in 2022 (f) Real GDP per capita growth rate in 2022 Please solve this for me and provide explanations.
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