Question 1-3: GDP calculations Consider the following data, containing the quantities produced of final goods and...

 

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Question 1-3: GDP calculations Consider the following data, containing the quantities produced of final goods and the respective prices for an economy. Using the data below, fill up all the empty cells. Use 2 decimals in your calculations. Tons of oranges Quantity of cars Price of oranges Price of cars 2020 4 10 20 200 Nominal GDP Constant-price GDP in 2020 prices Constant-price GDP in 2021 prices Chain-weighted real GDP (benchmark 2020) Based on your calculations, answer the questions below. Question 1. Between the 2 years, nominal GDP grew by ...? 2021 % Chg. 12 12 15 190 200 20 Question 3. The inflation rate (based on chain-weighted GDP) was...? -25 -5 Question 2. The Fisher index (defined as the percent change in chain-weighted GDP) was...? Question 1-3: GDP calculations Consider the following data, containing the quantities produced of final goods and the respective prices for an economy. Using the data below, fill up all the empty cells. Use 2 decimals in your calculations. Tons of oranges Quantity of cars Price of oranges Price of cars 2020 4 10 20 200 Nominal GDP Constant-price GDP in 2020 prices Constant-price GDP in 2021 prices Chain-weighted real GDP (benchmark 2020) Based on your calculations, answer the questions below. Question 1. Between the 2 years, nominal GDP grew by ...? 2021 % Chg. 12 12 15 190 200 20 Question 3. The inflation rate (based on chain-weighted GDP) was...? -25 -5 Question 2. The Fisher index (defined as the percent change in chain-weighted GDP) was...?

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2020 2021 Chg Tons of oranges 4 12 200 Quantity of cars 10 12 20 Price of oranges 20 15 25 Price of cars 200 190 5 nominal GDP 2080 2460 1827 constantprice GDP in 2020 prices 2080 2480 1923 constantpr... View the full answer