Question
The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that
The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.
Item
Base year 2019
2020
Production
Price
Production
Price
Used cloth (units)
4,000
50.00
5000
60.00
Components used tractor factory production
8,000
500.00
11000
1,200.00
Cloth
8,000
25.00
12,000
30.00
Beef gifts during cultural festival
1,500
2.00
1,700
3.00
Milk litres
5,000
1.30
7,000
2.50
Computers
2000
500.00
2,500
600.00
Printers
500
300.00
400
355.00
Raw materials for car assembling plant
4500
250.00
4450
i.Calculate Khada Republic's nominal GDP, real GDP in 2020 and GDP deflator
Examine the importance of a GDP deflator for Khada Republic
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Introduction To Business Statistics
Authors: Ronald M. Weiers
7th Edition
978-0538452175, 538452196, 053845217X, 2900538452198, 978-1111524081
