Question

help

Answer 1

@Pixel @umm

Answer 2

what is the nominal GDP for the year 2005? can someone help me

Answer 3

to find out the nominal GDP it says sum of all the items produced that year but I don't know what to do next

Answer 4

@Aqual

Answer 5

units produced is x, price per unit is y.
nominal gdp(a) = x*y
price index(b) = (y/18)*100
real gdp = a/(b/100)

Answer 6

those are the equations

Answer 7

how do I get the nominal GDP for 2005

Answer 8

3*6

Answer 9

so the nominal GDP is 18

Answer 10

yes, for 2005

Answer 11

to find the price index do I have to divide 2005 by 2005?

Answer 12

no

Answer 13

i mean 6 divided by 6

Answer 14

6/18

Answer 15

base year is 2007

Answer 16

oh

Answer 17

i thought the base year was 2005

Answer 18

i thought the base year was 2005

Answer 19

so the price index is 33.3?

Answer 20

hold on

Answer 21

yes

Answer 22

so the real GDP is 54?

Answer 23

umm hold on

Answer 24

divide 3.33 by 100

Answer 25

you mean 33.3?

Answer 26

ye

Answer 27

thats why

Answer 28

0.333

Answer 29

is it 0.333?

Answer 30

divide 18 by .333

Answer 31

so yeah

Answer 32

54 is the answer?

Answer 33

54

Answer 34

ok

Answer 35

yep

Answer 36

what is the nominal GDP for 2006

Answer 37

6*12

Answer 38

is the price index 150?

Answer 39

12/18

Answer 40

0.6

Answer 41

you do the math

Answer 42

is it 60

Answer 43

ill give equation

Answer 44

.6

Answer 45

is the price index 60?

Answer 46

.666

Answer 47

I thought it was 0.6

Answer 48

12/18 = .6666666666666666666666

Answer 49

it goes forever

Answer 50

so the price index is 66.6

Answer 51

yea

Answer 52

is the real GDP 108.1?