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Question 2: National Accounting [30 marks] There are only 3 goods sold in the country of Westland: chocolate, ice cream and smoothies. The following table
Question 2: National Accounting [30 marks] There are only 3 goods sold in the country of Westland: chocolate, ice cream and smoothies. The following table shows the amount sold and the price of each good: 2015 2016 2017 2018 2019 Chocolate Amount sold 100 105 150 130 140 Price per unit 5 6 5.5 6 5 Ice Cream Amount sold 120 135 140 150 100 Price per unit 2 4 5 4.5 4 Smoothie Amount sold 10 15 18 21 25 Price per unit 3 4.5 5 4 4 a) Calculate Westland's nominal GDP for each year. Calculate nominal GDP growth for the years 2016 to 2019
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