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# Economics Question Help plz 10 pts?

April 22, 2019 / By Berniece
Question: Okay so I have this question from my homework that I don't know how to answer I have all the info for it just don't know how to put it here's the question How much of the growth of nominal GDP between 2002 and 2005 was the result of inflation and how much was the result of real GDP growth? So for 2002 I had Fun Quanity = 40 and Price =\$2 Food Quantity = 60 and Price = \$3 Nominal GDP = \$260 And for 2005 Fun Quanity = 51 and Price = \$4 Food Quanity = 80 and Price = \$6 Nominal GDP = \$684 And the Real GDP in 2002 should be \$304 and in 2005 should be \$342 So can someone please help me?

## Best Answers: Economics Question Help plz 10 pts?

Affrica | 8 days ago
Real GDP takes Y2002 as base year. NGDP[2002] = 40x2 + 60x3 = \$260 = RGDP[2002] NGDP[2005] = 51x4 + 80x6 = \$684 RGDP[2005] = 51x2 + 80x3 = \$342 % ΔRGDP[2002→2005] = 100x((342/260)-1) = +31.54% % ΔNGDP[2002→2005] = 100x((684/260)-1) = +163.08% % Inflation[2002→2005] = 100x(((684/260)/(342/260))-1) = +100%
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