this question is for macronomics but on bartleby does not show any opiton for macronomics it just show economics Table 20.4.4 Quantities20132014Bananas1,000 bunches1,100 bunchesCoconuts500 bunches525 bunches Prices20132014Bananas$2 a bunch$3 a bunchCoconuts$10 a bunch$8 a bunch 5) Refer to Table 20.4.4 above. The table provides data on the economy of Tropical Republic that produces only bananas and coconuts. a) Calculate the Nominal GDP in 2013. b) Calculate the Real GDP in 2014. c) Calculate the GDP Deflator in 2014.

Nominal GDP is calculated by multiplying current year prices with current year quantities. Real GDP…

Answered: this question is for macronomics but on…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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this question is for macronomics but on bartleby does not show any opiton for macronomics it just show economics

Table 20.4.4

Quantities	2013	2014
Bananas	1,000 bunches	1,100 bunches
Coconuts	500 bunches	525 bunches

Prices	2013	2014
Bananas	$2 a bunch	$3 a bunch
Coconuts	$10 a bunch	$8 a bunch

5) Refer to Table 20.4.4 above. The table provides data on the economy of Tropical Republic that produces only bananas and coconuts.

a) Calculate the Nominal GDP in 2013.

b) Calculate the Real GDP in 2014.

c) Calculate the GDP Deflator in 2014.

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