Question: 4. The table below gives data for o small economy in which there are two nal goods included In GDP: good X and good Y.

 4. The table below gives data for o small economy in

4. The table below gives data for o small economy in which there are two nal goods included In GDP: good X and good Y. Given the following data, answer the following questions. Show all your work. clearly lndimiing the operations you are conducting. Nominal GDP 2015: Nominal GDP 2016: b. Calculate real GDP for each for each of these years. Use 2015 as the base year. Real GDP 2015: Real GDP 2016: c. Calculate the percentage change in real GDP from 2015 to 2016. Percentage Change: (1 Consider again the above table. Using 2015 as the base year, calculate a comer price index for each ofthe two years. CF] 2015: CPI 2016

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