table shows the prices and quantities of the goods over a three-year period. Please explain the formulas you used to get your answer. Grapes Apple Year Price Quantity Quantity Price 2017 $21 110 $30 500 2019 $24 145 $30.5 500 2019 $24 150 $31 520 For each year, calculate nominal GDP, real GDP, and the GDP deflator. Use 2017 as the base year. Fill in the cells in the table below and submit it in your answer. In | your answer. Year Nominal GDP RGDP GDP deflator 2018 2019 2020
table shows the prices and quantities of the goods over a three-year period. Please explain the formulas you used to get your answer. Grapes Apple Year Price Quantity Quantity Price 2017 $21 110 $30 500 2019 $24 145 $30.5 500 2019 $24 150 $31 520 For each year, calculate nominal GDP, real GDP, and the GDP deflator. Use 2017 as the base year. Fill in the cells in the table below and submit it in your answer. In | your answer. Year Nominal GDP RGDP GDP deflator 2018 2019 2020
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 4SQP
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