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 the current dollar value of (i) goods and (ii) services production in each year
Value of good =quantity of the good *price of a good
Ex.
the value of goods in the year 2010=2000*2=$4000 and so on
Value of services=quantity of services*price of service
value of services in year 2010=6200*1.5=9300 and so on
Year | Quantity Goods | Quantity Services | Price Goods | Price Services | goods in $ | services in $ |
2010 | 2000 | 6200 | 2 | 1.5 | 4000 | 9300 |
2011 | 2200 | 6400 | 2.11 | 1.65 | 4642 | 10560 |
2012 | 2500 | 6750 | 2.15 | 1.65 | 5375 | 11137.5 |
2013 | 2505 | 7100 | 2.3 | 1.9 | 5761.5 | 13490 |
2014 | 2700 | 7300 | 2.35 | 2 | 6345 | 14600 |
2015 | 3050 | 8000 | 2.5 | 2 | 7625 | 16000 |
2016 | 3100 | 8450 | 2.65 | 2.1 | 8215 | 17745 |
2017 | 3500 | 8650 | 2.7 | 2.15 | 9450 | 18597.5 |
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