Question: I can't not solve this problem , I need help to understand how to solve this problem step by step. Imagine that a hypothetical economy
I can't not solve this problem , I need help to understand how to solve this problem step by step.
Imagine that a hypothetical economy produces three items food, clothes and Aluminum and a typical consumer buys food and clothing only. The table below shows the hypothetical results.
ItemPrice/unit (2009)Qty (2009)Price/unit (2008)Qty (2008)
Food Tk 30 50 tk 20 100
Clothes Tk 150 5 tk 100 10
Aluminum Tk6000 2 tk 4000 40
Base year: 2008
Question 1.
a) Calculate GDP Deflator of 2009.
b) Growth rate of real GDP of 2009.
c) What can you conclude from your answer to part a.
d) What can you conclude from your answer to part b.
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