The nation of Potchatoonie produces hockey pucks,cases of root beer,and back rubs.Here are data on prices and quantities of the three goods in the years 2000 and 2005
Pucks
Year Quantity Price
2000 100 $5
2005 125 $7
Root Beer
Year Quantity Price
2000 300 $20
2005 250 $20
Back rubs
Year Quantity Price
2000 100 $20
2005 110 $25
Assume that 2000 is the base year.Find nominal GDP and real GDP for both year.
Macroeconomics
2009-01-29 2:06 pm
回答 (2)
2009-01-29 8:17 pm
✔ 最佳答案
Year 2000(base year):Nominal GDP = 100*$5 + 300*$20 + 100*$20
= $500 + $6000 + $2000
= $8500
Since year 2000 is the base year, real GDP = nominal GDP = $8500.
Year 2005(current year):
Nominal GDP = 125*$7 + 250*$20 + 110*$25
= $875 + $5000 + $2750
= $8625
Real GDP = quantity in current year * price in base year
= 125*$5 + 250*$20 + 110*$20
= $625 + $5000 + $2200
= $7825
2016-04-11 2:59 pm
thanks for your help. its helpful
收錄日期: 2021-04-23 23:16:53
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