DatesFishYearPrice of DatesQuantity of Dates Price of fishQuantity of Fish2018RO 50100RO 301002019RO 100120RO 601502020RO 150150RO 802001. Compute the Nominal GDP in 2018.2. Compute the Nominal GDP in 2019.3. Compute the Nominal GDP in 2020.4. Compute Real GDP in 2019, Using 2018 as the base year.5. Compute Real GDP in 2020, Using 2018 as the base year.6. Using 2018 as the base year, compute the GDP deflator in 2019.(Ctrl) -TOSHIBA

GDP: It refers to the goods and services which are produced in an economy. The GDP shows the growth…

Year Price of Dates Quantity of Dates Price of fish Quantity of Fish 2018 RO 50 100 RO 30 100 2019 RO 100 120 RO 60 150 2020 RO 150 150 RO 80 200 Compute the Nominal GDP in 2018. Compute the Nominal GDP in 2019

Year Price of Dates Quantity of Dates Price of fish Quantity of Fish 2018 RO 50 100 RO 30 100 2019 RO 100 120 RO 60 150 2020 RO 150 150 RO 80 200 Compute the Nominal GDP in 2018. Compute the Nominal GDP in 2019

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

Dates
Fish
Year
Price of Dates
Quantity of Dates Price of fish
Quantity of Fish
2018
RO 50
100
RO 30
100
2019
RO 100
120
RO 60
150
2020
RO 150
150
RO 80
200
1. Compute the Nominal GDP in 2018.
2. Compute the Nominal GDP in 2019.
3. Compute the Nominal GDP in 2020.
4. Compute Real GDP in 2019, Using 2018 as the base year.
5. Compute Real GDP in 2020, Using 2018 as the base year.
6. Using 2018 as the base year, compute the GDP deflator in 2019.
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TOSHIBA

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