An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2018 and 2019. If the base year is 2019, compare the growth rates of nominal GDP and real GDP. >>> Answer to 1 decimal place. GELOD The growth rate of nominal GDP in 2019 is 26.4 percent. The growth rate of real GDP in 2019 using the chained-dollar method is percent In 2018 Item Bananas Coconuts In 2019 Item Bananas Coconuts Quantity 95 bunches 60 bags Quantity 112 bunches 68 bags Price $7 a bunch $12 a bag Price $12 a bunch $6 a bag

An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2018 and 2019. If the base year is 2019, compare the growth rates of nominal GDP and real GDP. >>> Answer to 1 decimal place. GELOD The growth rate of nominal GDP in 2019 is 26.4 percent. The growth rate of real GDP in 2019 using the chained-dollar method is percent In 2018 Item Bananas Coconuts In 2019 Item Bananas Coconuts Quantity 95 bunches 60 bags Quantity 112 bunches 68 bags Price $7 a bunch $12 a bag Price $12 a bunch $6 a bag

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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