How to find nominal gdp in the current year, Macroeconomics

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Consider an economy that produces only three types of fruit: apples, oranges & bananas. In the base year the production & price data are as follows:

Fruit                                     Quantity                Price

Apples                                3000 Unit             Rs. 2 per unit

Bananas                            6000 Unit              Rs. 3 per unit

Oranges                            8000 Unit              Rs. 4 per unit

In the current year the production & price data are as follows:

Fruit                                  Quantity                Price

Apples                               4000 Unit           Rs. 3 per unit

Bananas                            14,000 Unit          Rs. 2 per unit

Oranges                            32,000 Unit          Rs. 5 per unit

a) Find nominal GDP in the current year & in the base year. What is the percentage enhancing since base year?

b) Find real GDP in the current year & in the base year. By what percentage does a real GDP enhancing from the base year to present year?

c) Find the GDP deflator for the current year & the base year. By what percentage does the price level change from the base year to present year?

 


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