able below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 201

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A: Given: Real GDP=$4220 billion Price Index=112 To find: Nominal GDP

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Q: the following table shows nominal GDP and an appropriate price index for a group of selected years.…

A: The Real GDP can be calculated by the given equation.

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A: Pencils               Envelopes Year Price (Pp) QP PE QE 2016 $1 105 $2 190…

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A: GDP deflator = (Nominal GDP / Real GDP)*100 => Real GDP = (Nominal GDP / GDP deflator)*100 =>…

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A: d) GDP Deflator for 2018 = Nominal GDPReal GDP*100 Where nominal GDP is based on current prices…

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A: "Since you have posted multiple sub-part questions, I can only answer the first three parts, rest…

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A: Real GDP fixes the price level at base year. It is not affected by changes in price level.

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A: since you have asked a multipart question and according to our policy we can only solve the first 3…

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A: Real GDP (RGDP) = (Nominal GDP / Price index) x 100

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A: Hi Student, Thanks or posting the question. As per the guideline, we are providing answer for the…

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A: (a) GDP deflator = (Nominal GDP / Real GDP)*100 Year 2019 GDP deflator = ($26000 / $21000)*100 =>…

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