Compute the values of nominal GDP 2017, 2018 and 2019. Table 1: Price and quantity for three types of product[Jadual 1: Harga dan kuantiti untuk tiga jenis produk]Year 2019[Tahun 2019]PriceProductYear 2017Year 2018[Tahun 2018]Quantity[Kuantiti][Produk][Tahun 2017]Quantity[Kuantiti]Quantity[Kuantiti]PricePrice(RM)[Harga(RM)]1(RM)[Harga(RM)](RM)[Harga(RM)]1.251801200200907590100100120C0.66750.56000.5630

Nominal GDP uses current quantity and current prices.

Table 1: Price and quantity for three types of product [Jadual 1: Harga dan kuantiti untuk tiga jenis produk] Product Year 2017 Year 2018 Year 2019 [Tahun 2017] Quantity [Киаntiti] [Tahun 2018] Quantity [Kuantiti] [Tahun 2019] Quantity [Kuantiti] [Produk] Price Price Price (RM) [Harga (RM)] 1 (RM) [Harga (RM)] (RM) [Harga (RM)] A 180 1 200 1.25 200 90 75 90 100 100 120 0.6 675 0.5 600 0.5 630

Table 1: Price and quantity for three types of product [Jadual 1: Harga dan kuantiti untuk tiga jenis produk] Product Year 2017 Year 2018 Year 2019 [Tahun 2017] Quantity [Киаntiti] [Tahun 2018] Quantity [Kuantiti] [Tahun 2019] Quantity [Kuantiti] [Produk] Price Price Price (RM) [Harga (RM)] 1 (RM) [Harga (RM)] (RM) [Harga (RM)] A 180 1 200 1.25 200 90 75 90 100 100 120 0.6 675 0.5 600 0.5 630

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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