Gross Domestic Product -Economics

Gross Domestic Product -Economics

ANSWER

Gross Domestic Product -Economics

QUESTION

1. Using the table below [ *Note: 2019 is the base year]

Cookies Smartphones
Year P Q P Q
*2019 $1 900 $900 185
2020 $2 1000 $1000 200
2021 $3 1250 $1250 210

a. Compute the GDP deflator the following:
For 2019,2020 and 2021

b. Compute the inflation rate b/w 2019-2021.

Scroll to Top
Scroll to Top