In: Economics
2017 |
2018 |
|||
Product |
Quantity |
Price |
Quantity |
Price |
Backpacks |
100 |
$10 |
120 |
$12 |
Books |
50 |
$15 |
40 |
$20 |
Using 2017 as a base year, calculate;
1) The GDP deflator
2) Nominal Economic growth
3) Real economic growth
4) Give reasons why Real GDP per capita may overstate the well-being of a countries inhabitants?
make as per Canadian standards.