Question: answer in microeconomics terms 2. Download the appropriate data files from the RBI Handbook of Statistics on Indian Economy (https://dbie.rbi.org.in/DBIE/dbie.rbi?site=home) a) Plot the real GDP

answer in microeconomics terms

2. Download the appropriate data files from the RBI Handbook of Statistics on Indian Economy (https://dbie.rbi.org.in/DBIE/dbie.rbi?site=home) a) Plot the real GDP and nominal GDP (line graph) between the period 1980-81 and 2010-11 in one graph. Consider either GDP at factor cost or GDP at market price. Which GDP (real or nominal) has been higher and why? Is there any year for which the values of both the real and nominal GDP series are the same? Why? b) Plot the rate of inflation (year-on-year) based on the GDP deflator between the period 1980-81 and 2010-11

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