Quantities/Time 2021 2022 Apples 50 Oranges 80 90 Prices Apples $1

Economics Feb 27, 2022

Quantities/Time 2021 2022 Apples 50 Oranges 80 90 Prices Apples $1.5 $1.0 Oranges $1.2 $1.5 (a) Compute nominal GDP and its growth rate. (5 marks) (b) Compute real GDP using both the Laspeyres and Paasche indices. Compute growth rates of real GDP using both indices. (10 marks) (C) Compute the chain-weight growth rates of real GDP. (5 marks)