Question

GDP CALCULATIONS Year Price of Pizza Quantity of Pizza Price of Pretzels Quantity of Pretzels 2017...

GDP CALCULATIONS

Year

Price of Pizza

Quantity of Pizza

Price of Pretzels

Quantity of Pretzels

2017

$15

80

$1.00

150

2019

$18

70

$1.10

200

2 a.

Using the table above, what is the country's nominal GDP in 2017?

b.

What is the country's nominal GDP in 2019?

c.

What is the country's real GDP in 2019 using 2017 as the base year?

d.

What is the country's real GDP growth rate from 2017-2019 using 2017 as the base year?
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