+Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 Burgers 100 120 4 Guitars 50 100 40 120 Using the table above, write your answers filling in the blanks only. Assume that base year is 2020. a) Nominal GDP in 2019 is: b) Real GDP in 2019 is: c) Nominal GDP in 2020: d) Real GDP in 2020: e) Using traditional approach, economic growth (in percentages (%) ) from 2019 to 2020 is: f) Using chain-weighted method, economic growth (in percentages (%) ) from 2019 to 2020 is:

+Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 Burgers 100 120 4 Guitars 50 100 40 120 Using the table above, write your answers filling in the blanks only. Assume that base year is 2020. a) Nominal GDP in 2019 is: b) Real GDP in 2019 is: c) Nominal GDP in 2020: d) Real GDP in 2020: e) Using traditional approach, economic growth (in percentages (%) ) from 2019 to 2020 is: f) Using chain-weighted method, economic growth (in percentages (%) ) from 2019 to 2020 is:

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 11P

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