1. Below is the data of Country A Price per Quantity of computers Price per Quantity of cell phone computer cell phone 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 Quantity of cell phone computer cell phone 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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Question
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F046b75f1-d441-40d5-a6f0-d64f97f24e3a%2Fec653d25-8407-4010-aeba-8889f285c239%2F39qqk9_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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.
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