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+Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 Burgers 100 120 4 Guitars 50 100 40 120 Using the table above, write your answers filling in the blanks only. Assume that base year is 2020. a) Nominal GDP in 2019 is: b) Real GDP in 2019 is: c) Nominal GDP in 2020: d) Real GDP in 2020: e) Using traditional approach, economic growth (in percentages (%) ) from 2019 to 2020 is: f) Using chain-weighted method, economic growth (in percentages (%) ) from 2019 to 2020 is:

+Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 Burgers 100 120 4 Guitars 50 100 40 120 Using the table above, write your answers filling in the blanks only. Assume that base year is 2020. a) Nominal GDP in 2019 is: b) Real GDP in 2019 is: c) Nominal GDP in 2020: d) Real GDP in 2020: e) Using traditional approach, economic growth (in percentages (%) ) from 2019 to 2020 is: f) Using chain-weighted method, economic growth (in percentages (%) ) from 2019 to 2020 is:

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 6CQQ
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+Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 Burgers 100 120 4 Guitars 50 100 40 120 Using the table above, write your answers filling in the blanks only. Assume that base year is 2020. a) Nominal GDP in 2019 is: b) Real GDP in 2019 is: c) Nominal GDP in 2020: d) Real GDP in 2020: e) Using traditional approach, economic growth (in percentages (%) ) from 2019 to 2020 is: f) Using chain-weighted method, economic growth (in percentages (%) ) from 2019 to 2020 is:
Transcribed Image Text:+Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 Burgers 100 120 4 Guitars 50 100 40 120 Using the table above, write your answers filling in the blanks only. Assume that base year is 2020. a) Nominal GDP in 2019 is: b) Real GDP in 2019 is: c) Nominal GDP in 2020: d) Real GDP in 2020: e) Using traditional approach, economic growth (in percentages (%) ) from 2019 to 2020 is: f) Using chain-weighted method, economic growth (in percentages (%) ) from 2019 to 2020 is:
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