Question: You are provided with the attached data - assume the two items produced by an economy are movies and popcorn.Quantities and prices of these goods

 You are provided with the attached data - assume the two

You are provided with the attached data - assume the two items produced by an economy are movies and popcorn.Quantities and prices of these goods for the last several years are shown below.The base year is 2017.

Using this information, answer the following questions:

items produced by an economy are movies and popcorn.Quantities and prices of

AutoSave . OFF AB ? CABE ... Problem Set 3 - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View ? Tell me Share Comments Times New... v 12 A" A Aa A AaBbCcDdE AaBbCcDdE AaBbCcDc AaBbCcDdEE AaBb( AaBbCcDdEE Paste BIUvab X x A DAY Normal No Spacing Heading 1 Heading 2 Title Subtitle Styles Dictate Sensitivity Pane Question 4 You are provided with the following data - assume the two items produced by an economy are movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2017 Prices and Quantities Year Price of Quantity of Price of Quantity of Movies Movies Popcorn Popcorn 2017 $11.00 400 $5 800 2018 $12.00 500 $4 900 2019 $12.00 600 $5 1000 2020 $13.00 600 $6 900 Using this information, answer the following questions: (a) Calculate nominal GDP for each of the four years. 2017 $11*400= 4,400 $5*800 =4,000 = $8,400 2018 $12*500=6,000 $4*900=3,600 = $9,600 2019 $12*600=7,200 $5*1,000=5,000 = $12,200 2020 $13*600=7,800 $6*900=5,400 =$13,200 (b) Calculate real GDP for each of the four years. 2017 $11*400= 4,400 $5*800 =4,000 = $8,400 2018 $11*500=5,500 $5*900=4,500 = $10,000 2019 $11*600= 6,600 $5*1,000=5,000 = $11,600 2020 $11*600= 6.600 $5*900=4.500 =$ 11.100 Page 3 of 4 8 of 832 words x English (United States) Focus E + 170%

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