Compute Nominal and Real GDP in each year and find percentage changes in the GDP. (Use 2001 as base year). Orange Dates Year Price Quantity Price Quantity 2001 6 100 1.50 800 2002 7 150 2.00 900 2003 8 200 2.50 1000

Compute Nominal and Real GDP in each year and find percentage changes in the GDP. (Use 2001 as base year). Orange Dates Year Price Quantity Price Quantity 2001 6 100 1.50 800 2002 7 150 2.00 900 2003 8 200 2.50 1000

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter6: How Statisticians Measure Inflation

Section6.A: How Statisticians Measure Inflation

Problem 2TY

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Question

Compute Nominal and Real GDP in each year and find percentage changes in the
GDP. (Use 2001 as base year).
Orange
Dates
Year
Price
Quantity Price
Quantity
2001
6
100
1.50
800
2002
7
150
2.00
900
2003
8
200
2.50
1000

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