Question-1: Use the data from below table and calculate nominal GDP for each year. Calculate real GDP for each year using Year 2006 as the base year. 2006 2007 2008 Price Qty Price Qty Price Qty Good A Rs. 30 900 Rs. 31 1,000 Rs. 36 1,050 Good B Rs. 100 192 Rs.102 200 Rs. 100 205

Question-1: Use the data from below table and calculate nominal GDP for each year. Calculate real GDP for each year using Year 2006 as the base year. 2006 2007 2008 Price Qty Price Qty Price Qty Good A Rs. 30 900 Rs. 31 1,000 Rs. 36 1,050 Good B Rs. 100 192 Rs.102 200 Rs. 100 205

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter6: How Statisticians Measure Inflation

Section6.A: How Statisticians Measure Inflation

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Question-1: Use the data from below table and calculate nominal GDP for each year. Calculate real GDP for each year using Year 2006 as the base year.

	2006	2007	2008
	Price	Qty	Price	Qty	Price	Qty
Good A	Rs. 30	900	Rs. 31	1,000	Rs. 36	1,050
Good B	Rs. 100	192	Rs.102	200	Rs. 100	205

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