Question: Using the data, calculate nominal GDP and real GDP for 2020 2021, and 2022 using the chain-weighted method. 2020 is the base year. Year

Using the data, calculate nominal GDP and real GDP for 2020 2021, and 2022 using the chain-weighted method. Year Price (sunglasses) Quantity (sunglasses) 2020 2021 2022 $15 $16 $18 28 29 36 Price (beach towels) $16

Using the data, calculate nominal GDP and real GDP for 2020 2021, and 2022 using the chain-weighted method. 2020 is the base year. Year Nominal GDP 2020 $ (4 pts) 2021 s (4 pts) 2022 S(4 pts) Real GDP (4 pts) S (24 pts) (24 pts) CIL Year Price (sunglasses) Quantity (sunglasses) 2020 2021 2022 $15 $16 $18 28 29 36 Price (beach towels) $16 $19 $20 Quantity (beach towels) 76 82 84

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