Question
Using the data in the table below, to complete the tasks for this question. Data for 2019 (Base Year) Data for 2020 Quantity Price Quantity
Using the data in the table below, to complete the tasks for this question.
Data for 2019 (Base Year) | Data for 2020 | |||
Quantity | Price | Quantity | Price | |
Potato | 600 | 2.50 | 680 | 3.00 |
Rice | 840 | 2.00 | 800 | 2.80 |
Computers | 500 | 850 | 450 | 950 |
Cars | 300 | 15,000 | 200 | 18,000 |
- Calculate Nominal GDP for 2019 and 2020. Show your workings.
- Calculate Real GDP for 2019 and 2020. Show your workings.
- Calculate the GDP Deflator. Show your workings
- Identify 2 possible exclusions to GDP and discuss why they have to be excluded.
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Research Methods Design And Analysis
Authors: Larry Christensen
13th Edition
0205961258, 978-0205961252
