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2. The following is also known for Ekonland: 2019 2020 Q P Q Pen 180 3 220 Раper 1100 1 1500 Eraser 1 140 140 a) Calculate nominal GDP for 2019 and 2020. b) Given BY (Base Year) =2019, calculate real GDP for 2019, 2020. What is the growth from 20019 to 20020? c) Calculate the GDP deflator using information from above. Is there inflation/deflation in 2020?

2. The following is also known for Ekonland: 2019 2020 Q P Q Pen 180 3 220 Раper 1100 1 1500 Eraser 1 140 140 a) Calculate nominal GDP for 2019 and 2020. b) Given BY (Base Year) =2019, calculate real GDP for 2019, 2020. What is the growth from 20019 to 20020? c) Calculate the GDP deflator using information from above. Is there inflation/deflation in 2020?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. The following is also known for Ekonland: 2019 2020 P Q P Q Pen 2 180 3 220 Paper 1100 1 1500 Eraser 1 140 140 a) Calculate nominal GDP for 2019 and 2020. b) Given BY (Base Year) =2019, calculate real GDP for 2019, 2020. What is the growth from 20019 to 20020? c) Calculate the GDP deflator using information from above. Is there inflation/deflation in 2020? 4.
Transcribed Image Text:2. The following is also known for Ekonland: 2019 2020 P Q P Q Pen 2 180 3 220 Paper 1100 1 1500 Eraser 1 140 140 a) Calculate nominal GDP for 2019 and 2020. b) Given BY (Base Year) =2019, calculate real GDP for 2019, 2020. What is the growth from 20019 to 20020? c) Calculate the GDP deflator using information from above. Is there inflation/deflation in 2020? 4.
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