c) The production and prices of T-Shirts and Jeans in Fashion Land in 2020 and 2021 are as follows: Quantity of T- Quantity of Price of T- Price of Shirts Jeans Shirts Jeans (thousands) (thousands)...


c)<br>The production and prices of T-Shirts and Jeans in Fashion Land in 2020 and 2021<br>are as follows:<br>Quantity of T-<br>Quantity of<br>Price of T-<br>Price of<br>Shirts<br>Jeans<br>Shirts<br>Jeans<br>(thousands)<br>(thousands)<br>2020<br>10<br>$25<br>10<br>$60<br>2021<br>15<br>$30<br>12<br>$70<br>Taking 2020 as the base year, calculate the:<br>i)<br>Nominal GDP in 2021<br>ii)<br>Real GDP in 2020 and 2021<br>i)<br>Real GDP Growth Rate in 2021<br>iv)<br>Nominal GDP per Capita in 2021 if the population is 550.<br>

Extracted text: c) The production and prices of T-Shirts and Jeans in Fashion Land in 2020 and 2021 are as follows: Quantity of T- Quantity of Price of T- Price of Shirts Jeans Shirts Jeans (thousands) (thousands) 2020 10 $25 10 $60 2021 15 $30 12 $70 Taking 2020 as the base year, calculate the: i) Nominal GDP in 2021 ii) Real GDP in 2020 and 2021 i) Real GDP Growth Rate in 2021 iv) Nominal GDP per Capita in 2021 if the population is 550.

Jun 08, 2022
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