A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2019. (Please write the calculation details) (1) What were this country's nominal GDP in 2018, 2019 and 2020? (2) What were this country's real GDP in 2018, 2019 and 2020? (3) What were this country's GDP deflator in 2018, 2019 and 2020?

A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2019. (Please write the calculation details) (1) What were this country's nominal GDP in 2018, 2019 and 2020? (2) What were this country's real GDP in 2018, 2019 and 2020? (3) What were this country's GDP deflator in 2018, 2019 and 2020?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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