The data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each product for the distant country of Vindaloo. (All figures are in billions and the base year is 2015.) a. Complete the table below. 10 11 12 2015 2016 2017 2016 2017 Prices 2015 Item Qty Nominal GDP Qty Nominal GDP Real GDP Qty Nominal GDP Real GDP Prices Prices 256 O 324 O 40e O Pizzas 32 $8 36 $9 40 $10 Movie tickets 208 O 22 24 26 Farm tractors 4 105 420 5. 95 475 110 660 Parking meters 6 40 240 50 350 4. 60 240 Totals 1048 1341 1508 OlololO olololo

The data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each product for the distant country of Vindaloo. (All figures are in billions and the base year is 2015.) a. Complete the table below. 10 11 12 2015 2016 2017 2016 2017 Prices 2015 Item Qty Nominal GDP Qty Nominal GDP Real GDP Qty Nominal GDP Real GDP Prices Prices 256 O 324 O 40e O Pizzas 32 $8 36 $9 40 $10 Movie tickets 208 O 22 24 26 Farm tractors 4 105 420 5. 95 475 110 660 Parking meters 6 40 240 50 350 4. 60 240 Totals 1048 1341 1508 OlololO olololo

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

Please help me to calculate the Real GDP when Deflator is unkown and expain how thank you in advace. Question is attatched

The data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each
product for the distant country of Vindaloo. (All figures are in billions and the base year is 2015.)
a. Complete the table below.
2
4
5
9
10
11
12
2015
2016
2017
2015
2016
2017
Item
Qty
Nominal GDP
Qty
Nominal GDP
Real GDP
Qty
Nominal GDP
Real GDP
Prices
Prices
Prices
Pizzas
32
$8
256
36
$9
324
40
$10
400
Movie tickets
22
6
24
26
8
Farm tractors
4
105
420
5
95
475
6
110
660 O
Parking meters
40
240
50
350
60
240
Totals
1048
1341
1508
b. The value of nominal GDP in 2015 is $
1048
in 2016 is $
1341
and in 2017 is $
1508
c. The value of real GDP in 2015 is $
in 2016 is $
and in 2017 is $
d. The value of the GDP deflator in 2015 is
in 2016 is
and in 2017 is
Answer to one decimal place.
olololO
ololo
olololo

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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