Fill up the below table and show your work YEAR UNITS PRICE/ NOMINAL REAL GDP( REAL...

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Fill up the below table and show your work YEAR UNITS PRICE/ NOMINAL REAL GDP( REAL OF X GDP BASE GDP YEAR 2) (BASE YEAR4 1 2 34 S 8 10 15 18 20 UNIT IN $ 23 2 3 4 5 6 1) 1- Calculate the real economic growth rate between year 4 and year 5 GDP PRICE INDEX( BASE YEAR 4) 2- Calculate nominal economic growth rate between year 1 and year 2 a) Calculate the productivity per hour of labor worked? b) What is the size of real GDP in that year? 3- Given the total value of output produced in a given year $1000000, and the total hours worked in that year 100000 hours. Fill up the below table and show your work YEAR UNITS PRICE/ NOMINAL REAL GDP( REAL OF X GDP BASE GDP YEAR 2) (BASE YEAR4 1 2 34 S 8 10 15 18 20 UNIT IN $ 23 2 3 4 5 6 1) 1- Calculate the real economic growth rate between year 4 and year 5 GDP PRICE INDEX( BASE YEAR 4) 2- Calculate nominal economic growth rate between year 1 and year 2 a) Calculate the productivity per hour of labor worked? b) What is the size of real GDP in that year? 3- Given the total value of output produced in a given year $1000000, and the total hours worked in that year 100000 hours.

Answer rating: 100% (QA)

1 Real economic growth rate between year 4 and year 5 Real economic growth rate is calculated by taking the difference between real GDP in year 5 34 and real GDP in year 4 20 and then dividing this di... View the full answer