Using the gross Value added method: Calculate GDP

Activity	Cost of Outputs	Cost of Inputs	Gross Value Added
Pineapple farmer	5	2
Juice Factory	10	5
Supermarket	20	10
Bar	35	20
TOTAL			33

4.Differentiate between Nominal and Real GDP

5. Calculate Real and Nominal GDP, given the following data

The base year price for real GDP is 2005

6. Calculate the growth rate for real GDP between 2005 and 2006