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The tables below shows data on prices and quantities of Cherries and Shoes produced in Norway. Data for 2014 Price of Cherries Quantity of
The tables below shows data on prices and quantities of Cherries and Shoes produced in Norway. Data for 2014 Price of Cherries Quantity of Cherries Price of Shoes Quantity of Shoes 1 160 20 220 Data for 2015 Price of Cherries Quantity of Cherries Price of Shoes Quantity of Shoes 0.8 120 12 260 Data for 2016 Price of Cherries Quantity of Cherries 1 240 Price of Shoes 10 Quantity of Shoes 300 1.Given this data, what is the Nominal GDP in 2014? 2. Given this data, what is the Nominal GDP in 2015? 3. Given this data, what is the Nominal GDP in 2016? 4. Using 2014 as the base year, what is the Real GDP in 2014? 5. Using 2014 as the base year, what is the Real GDP in 2015? 6. Using 2014 as the base year, what is the Real GDP in 2016? 7. Using 2014 as the base year, what is the GDP Deflator in 2014? 8. Using 2014 as the base year, what is the GDP Deflator in 2015? 9. Using 2014 as the base year, what is the GDP Deflator in 2016? 10. Using 2014 as the base year, what is the growth rate of the nominal GDP between 2014 to 2015? 11. Using 2014 as the base year, what is the growth rate of the nominal GDP between 2015 to 2016? 12. Using 2014 as the base year, what is the growth rate of the real GDP between 2014 to 2015? 13. Using 2014 as the base year, what is the growth rate of the real GDP between 2015 to 2016? 14. Using 2014 as the base year, what is the growth rate of the GDP deflator (also know as inflation rate) between 2014 to 2015? 15. Using 2014 as the base year, what is the growth rate of the GDP deflator (also know as inflation rate) between 2015 to 2016?
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