Question 1 Suppose an economy consists of only two types of products: laptops and automobiles. Sales and price data for these two products for two different years are shown below: 2015 2019 2021 Products Quantity Price Quantity Price Quantity Price sold (RM) sold (RM) sold (RM) Laptop 200,000 2,000 500,000 3,000 450,000 3,500 Automobiles 60,000 40,000 80,000 60,000 90,000 80,000 Calculate: a) Nominal Gross Domestic Product (GDP) in 2019 and 2021. (4 Marks) b) Real Gross Domestic Product (GDP) in 2019 and 2021 using 2015 as base year. (4 Marks) c) Based on your answers to questions (a) and (b), which one of them accurately measures the growth of GDP and why? (2 Marks) d) Higher GDP is indicated higher income per capital, higher economic growth and increases in distribution of income but GDP does not reflect everything going well the economy. Explain FOUR (4) the limitation in GDP measure with examples. (10 Marks)