Question

Year	Quantity Goods	Quantity Services	Price Goods	Price Services
2010	2000	6200	2	1.5
2011	2200	6400	2.11	1.65
2012	2500	6750	2.15	1.65
2013	2505	7100	2.3	1.9
2014	2700	7300	2.35	2
2015	3050	8000	2.5	2
2016	3100	8450	2.65	2.1
2017	3500	8650	2.7	2.15

Calculate nominal GDP in each year, the annual growth rate of nominal GDP for each year, and the annual average growth rate of nominal GDP.

Answer 1

Nominal GDP =

GDP growth rate =

Average annual GDP growth rate =