1. Below is the data of Country A Price per Quantity of computers Price per cell phone Quantity of cell phone computer 2005 100 200 80 75 2006 130 250 70 75 2007 155 350 65 125 a) Compute nominal GDP, real GDP and GDP deflator for each year using 2005 as base year. b) Compare the economic growth between the year 2006 and 2007.

1. Below is the data of Country A Price per Quantity of computers Price per cell phone Quantity of cell phone computer 2005 100 200 80 75 2006 130 250 70 75 2007 155 350 65 125 a) Compute nominal GDP, real GDP and GDP deflator for each year using 2005 as base year. b) Compare the economic growth between the year 2006 and 2007.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 3QP

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