2018 2019 2020 Nominal National 550 705 Product (RM billion) True National 440 495 Product (RM billion) Consumer Price 128 135 Index (2010 = 100) Population (million) 30 32 33 a. Calculate the Consumer Price Index for 2018. b. Calculate the nominal national for 2019. c. Calculate the true National product for 2020. d. Calculate the rate of increase in the quantity of goods produced for 2019.

2018 2019 2020 Nominal National 550 705 Product (RM billion) True National 440 495 Product (RM billion) Consumer Price 128 135 Index (2010 = 100) Population (million) 30 32 33 a. Calculate the Consumer Price Index for 2018. b. Calculate the nominal national for 2019. c. Calculate the true National product for 2020. d. Calculate the rate of increase in the quantity of goods produced for 2019.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 4.9P

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