EXERCISE 20.4: CALCULATING NOMINAL GDP FROM RAW DATA The following data shows the quantities of output a hypothetical economy produced in 2002,2005 and 2010, and the amounts consumed by a typical post-secondary student. Base Year = 2002 2002 2005 2010 Product Price $ Quantity Quantity Price $ Quantity Quantity Quantity Quantity Produced Consumed Price $ Produced Consumed Produced Consumed New Houses 41,500 (units) 42,560 42,000 Coffee (cups) 83,700 2.15 80,000 2.1 85,500 Pizza (pieces) 6.5 16,440 19,200 8.15 20,550 & Beef (Kg) CO 68,520 CO 64,300 CO 9.6 66,500 CO Photocopy 0.45 54,200 157 (pages) 0.55 58,400 180 0.75 49,200 156 A. Nominal GDP in 2002 Number B. Nominal GDP in 2005 Number C. Nominal GDP in 2010 Number D. Nominal GDP Growth Rate 2002-2005 Number E. Nominal GDP Growth Rate 2005-2010 Number