Year Pizza Sada Quantity Price Soda Price 2016 15 $11.00 22 52.00 2017 18 $12.00 23...

 

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Year Pizza Sada Quantity Price Soda Price 2016 15 $11.00 22 52.00 2017 18 $12.00 23 $3.00 2018 20 $11.00 25 $2.50 1. Refer to Table above. Estimate Nominal GDP for 2017. 2. Refer to Table above. Using 2016 as the base year, estimate real GDP for 2017. 3. Refer to Table above. Estimate the GDP deflator in 2017. 4. Why do economists estimate nominal and real GDP? 5. List three things that are not included in the GDP estimation. i. ii. iii. 6. Using the GDP explain, what is economic growth? 7. What do you mean by GDP per capita? Assume that the following is the approximate estimation of GDP and population for three GCC countries. 1 bn = 1,000 mn. 2019 Kuwait Qatar Saudi Arabia Current GDP (USS ba 135.7 1635 640.3 Population (ma) 8. Using the table above estimate Kuwait's GDP per person? Year Pizza Sada Quantity Price Soda Price 2016 15 $11.00 22 52.00 2017 18 $12.00 23 $3.00 2018 20 $11.00 25 $2.50 1. Refer to Table above. Estimate Nominal GDP for 2017. 2. Refer to Table above. Using 2016 as the base year, estimate real GDP for 2017. 3. Refer to Table above. Estimate the GDP deflator in 2017. 4. Why do economists estimate nominal and real GDP? 5. List three things that are not included in the GDP estimation. i. ii. iii. 6. Using the GDP explain, what is economic growth? 7. What do you mean by GDP per capita? Assume that the following is the approximate estimation of GDP and population for three GCC countries. 1 bn = 1,000 mn. 2019 Kuwait Qatar Saudi Arabia Current GDP (USS ba 135.7 1635 640.3 Population (ma) 8. Using the table above estimate Kuwait's GDP per person?

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Refer to Table above Estimate Nominal GDP for 2017 The nominal GDP for 2017 is 48 billion I bn1000 mn This is the sum of the product of the quantity a... View the full answer