Q1) The economy produces only two products: vegetable oil and wheat. The following table shows quantity and price in 2020 and 2021. 2020 2021 Quantity Price Quantity Price vegatable_oil 200 50 220 100...


Q1) The economy produces only two products: vegetable oil and wheat. The<br>following table shows quantity and price in 2020 and 2021.<br>2020<br>2021<br>Quantity<br>Price<br>Quantity<br>Price<br>vegatable_oil 200<br>50<br>220<br>100<br>wheat<br>400<br>10<br>600<br>19<br>a)<br>Calculate nominal GDP<br>b) Calculate real GDP<br>C)<br>Calculate implicit price deflator for GDP<br>d)<br>Calculate consumer price index.<br>

Extracted text: Q1) The economy produces only two products: vegetable oil and wheat. The following table shows quantity and price in 2020 and 2021. 2020 2021 Quantity Price Quantity Price vegatable_oil 200 50 220 100 wheat 400 10 600 19 a) Calculate nominal GDP b) Calculate real GDP C) Calculate implicit price deflator for GDP d) Calculate consumer price index.

Jun 10, 2022
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