In an economy, there are only two goods (Cars and cycles) produced. The data for last...

In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table. Calculate the nominal and real GDP of three years and then find the GDP deflator for all the three years. Find year on year (YoY) inflation for 2018 and 2019. Note: the base year for this economy is given as 2017.

year	Price of Car(AED)	Number of Car	Price of cycle (AED)	Number of cycle
2017	1000	10	200	900
2018	1200	15	210	1000
2019	1500	25	250	1500

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Rahul Sunny answered 1 year ago

In an economy, there are only two goods (Cars and cycles) produced. The data for last...

In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table. Calculate the nominal and real GDP of three years and then find the GDP deflator for all the three years. Find year on year (YoY) inflation for 2018 and 2019. Note: the base year for this economy is given as 2017. year Price of Car(AED) Number of Car Price of cycle (AED) Number of cycle 2017...

In an economy, there are only two goods (Cars and cycles) produced. The data for last...

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In an economy, there are only two goods (Cars and cycles) produced. The data for last...

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