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Calculate both nominal and real GDP for 2017, 2018 and 2019. I Assume 2015 as base year.

Calculate both nominal and real GDP for 2017, 2018 and 2019. I Assume 2015 as base year.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 3SCQ: Compute the inflation rate for fruit prices from 2001 to 2004.
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Calculate both nominal and real GDP for 2017, 2018 and 2019. I Assume 2015 as base year. Year Quantity of Rice Quantity of Yam Prices of Rice Price of Yam (N) (N) 2015 20 30 2016 40 10 60 2017 50 12 40 10 2018 40 16 70 14 2019 70 20 80 15
Transcribed Image Text:Calculate both nominal and real GDP for 2017, 2018 and 2019. I Assume 2015 as base year. Year Quantity of Rice Quantity of Yam Prices of Rice Price of Yam (N) (N) 2015 20 30 2016 40 10 60 2017 50 12 40 10 2018 40 16 70 14 2019 70 20 80 15
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