Can you solve the option B and C please? and explain briefly please 7. Suppose a country produces three goods: Good X, Good Y and Good Z. The following tableprovides information about the prices and output for these three goods for the years 2018, 2019 and2020.Quantity ofGood XPrice per GoodYYearPrice per GoodXQuantity of Price per Good Quantity ofGood YGood Z2018$1010$510$10202019$1014$5.211$10212020$1114$5.412$1023a.Using the provided information, fill in the following table.YearNominal GDP201820192020b.b. What is the percentage change in nominal GDP from 2018 to 2019? Provide any formulas youuse and show your work in calculating this answer.c. What was the percentage change in nominal GDP from 2019 to 2020?

The above question two questions require us to calculate the nominal GDP and % change of nominal GDP…

7. Suppose a country produces three goods: Good X, Good Y and Good Z. The following table provides information about the prices and output for these three goods for the years 2018, 2019 and 2020. Price per Good Quantity of Price per Good Good X Quantity of Good Z Year Quantity of Price per Good Good Y Y 2018 $10 $5 10 $10 20 10 2019 $10 14 $5.2 11 $10 21 2020 $1 14 $5.4 12 $10 23

7. Suppose a country produces three goods: Good X, Good Y and Good Z. The following table provides information about the prices and output for these three goods for the years 2018, 2019 and 2020. Price per Good Quantity of Price per Good Good X Quantity of Good Z Year Quantity of Price per Good Good Y Y 2018 $10 $5 10 $10 20 10 2019 $10 14 $5.2 11 $10 21 2020 $1 14 $5.4 12 $10 23

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 1.2P

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