Q.1.5 and Q.1.6 are based on the following information about an economy that produces the following combinations of two goods: bats and balls. 2018 (Base year) 2019 Quantity Price (R) Quantity Price (R) Bats 205 8 210 9 Balls 310 4 320 5 Q.1.5 The value of the nominal GDP in 2019 is: (2) (1) R1 530. (2) R1 045. (3) R2 880. (4) R3 490. Q.1.6 The value of the real GDP in 2019 is: (2) (1) R1 880. (2) R2 620. (3) R2 960. (4) R3 395.
Q.1.5 and Q.1.6 are based on the following information about an economy that produces the following combinations of two goods: bats and balls. 2018 (Base year) 2019 Quantity Price (R) Quantity Price (R) Bats 205 8 210 9 Balls 310 4 320 5 Q.1.5 The value of the nominal GDP in 2019 is: (2) (1) R1 530. (2) R1 045. (3) R2 880. (4) R3 490. Q.1.6 The value of the real GDP in 2019 is: (2) (1) R1 880. (2) R2 620. (3) R2 960. (4) R3 395.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 4WNG
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Q.1.5 and Q.1.6 are based on the following information about an economy that produces the following combinations of two goods:
bats and balls.
2018 (Base year) 2019
Quantity
Bats 205 8 210 9
Balls 310 4 320 5
Q.1.5 The value of the nominal
(1) R1 530.
(2) R1 045.
(3) R2 880.
(4) R3 490.
Q.1.6 The value of the real GDP in 2019 is: (2)
(1) R1 880.
(2) R2 620.
(3) R2 960.
(4) R3 395.
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