7. Suppose a country produces three goods: Good X, Good Y and Good Z. The following tableprovides information about the prices and output for these three goods for the years 2018, 2019 and2020.Price perGood XPrice perGood YPrice perGood ZQuantity ofGood ZXearQuantity ofGood XQuantity ofGood Y2018$1010$510$10202019$1014$5.211$10212020$1114$5.412$1023Using the provided information, fill in the following table.а.XearNominal GDP201820192020

The gross domestic product refers to the money value of the market value of all finished goods and…

Price per Good X Quantity of Good X Яuantty of Good Z Xear Price per Good Y Яuantty of Good Y Price per Good Z 2018 $10 10 $5 10 $10 20 2019 $10 14 $5.2 11 $10 21 2020 $11 14 $5.4 12 $10 23 a. Using the provided information, fill in the following table. Xear Nominal GDP 2018 2019 2020

Price per Good X Quantity of Good X Яuantty of Good Z Xear Price per Good Y Яuantty of Good Y Price per Good Z 2018 $10 10 $5 10 $10 20 2019 $10 14 $5.2 11 $10 21 2020 $11 14 $5.4 12 $10 23 a. Using the provided information, fill in the following table. Xear Nominal GDP 2018 2019 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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Question

7. Suppose a country produces three goods: Good X, Good Y and Good Z. The following table
provides information about the prices and output for these three goods for the years 2018, 2019 and
2020.
Price per
Good X
Price per
Good Y
Price per
Good Z
Quantity of
Good Z
Xear
Quantity of
Good X
Quantity of
Good Y
2018
$10
10
$5
10
$10
20
2019
$10
14
$5.2
11
$10
21
2020
$11
14
$5.4
12
$10
23
Using the provided information, fill in the following table.
а.
Xear
Nominal GDP
2018
2019
2020

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