2006 Price good A BDT 30 good B BDT 100 Quantity 900 192 2007 Price BDT 31 BDT 102 2008 Price 1,000 BDT 36 200 BDT 100 Quantity Quantity 1,050 205

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 2CQ
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(b) Consider an economy with two goods i.e. good A and Good B. Prices and
Quantities for different years are given in the following table. Calculate the
nominal and real GDP for each of the years (hint: to calculate real GDP use
2007 as the base years).
Transcribed Image Text:(b) Consider an economy with two goods i.e. good A and Good B. Prices and Quantities for different years are given in the following table. Calculate the nominal and real GDP for each of the years (hint: to calculate real GDP use 2007 as the base years).
2006
Price
good A
BDT 30
good B BDT 100
Quantity
900
192
2007
Price
BDT 31
BDT 102
2008
Price
1,000 BDT 36
200
BDT 100
Quantity
Quantity
1,050
205
Transcribed Image Text:2006 Price good A BDT 30 good B BDT 100 Quantity 900 192 2007 Price BDT 31 BDT 102 2008 Price 1,000 BDT 36 200 BDT 100 Quantity Quantity 1,050 205
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