Question: Given the following information, what would the real growth in 2015 be? Nominal GDPGDP Deflator 2…

02 May Question: Given the following information, what would the real growth in 2015 be? Nominal GDPGDP Deflator 2…

Posted at 07:45h in 2Past Paper by Exams

Given the following information, what would the real growth in 2015 be? Nominal GDPGDP Deflator 2014$120 billion 110 2015145 billion 126 5.6 (HOW) With a Real GDP of $100 billion in 2016 and of $140 billion in 2017, the real growth would be 40% (HOW) The fictional small country of Dansbert has had a robust GDP the last few years. Dansbert produces just two products: TVs and Computers. The following chart shows product quantities and prices from 2016 to 2018. With 2016 as the base year calculate the real GDP using 2018 prices. What is the real yearly growth in 2017 & 2018? TVs Quantity Price/unitQuantity Price/unit Computers Year 2016 (base year)1 millionS20 Year 2017 Year 2018 2 million $40 3 million$40 3 million $65 5 million$70 6 million $80 80% for 2017, 89% for 2018 (HOW)

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