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Question 1

The tables below shows data on prices and quantities of Cherries and Bags produced in China.

Data for 2014

Price of CherriesQuantity of CherriesPrice of BagsQuantity of Bags
0.517018220

Data for 2015

Price of CherriesQuantity of CherriesPrice of BagsQuantity of Bags
0.720019270

Data for 2016

Price of CherriesQuantity of CherriesPrice of BagsQuantity of Bags
123013300

Given this data, what is the Nominal GDP in 2014?

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Question 2

Given this data, what is the Nominal GDP in 2015?

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Question 3

Given this data, what is Nominal GDP in 2016?

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Question 4

Using 2014 as the base year, what is the Real GDP in 2014?

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Question 5

Using 2014 as the base year, what is the Real GDP in 2015?

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Question 6

Using 2014 as the base year, what is the Real GDP in 2016?

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Question 7

Using 2014 as the base year, what is the GDP Deflator in 2014?

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Question 8

Using 2014 as the base year, what is GDP Deflator in 2015?

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Question 9

Using 2014 as the base year, what is the GDP Deflator in 2016?

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Question 10

Using 2014 as the base year, what is the growth rate of the nominal GDP between 2014 to 2015?

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Question 11

Using 2014 as the base year, what is the growth rate of nominal GDP between 2015 to 2016?

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Question 12

Using 2014 as the base year, what is the growth rate of real GDP between 2014 to 2015?

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Question 13

Using 2014 as the base year, what is the growth rate of real GDP between 2015 to 2016?

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Question 14

Using 2014 as the base year, what is the growth rate of the GDP deflator (also know as inflation rate) between 2014 to 2015?

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Question 15

Using 2014 as the base year, what is the growth rate of the GDP deflator (also know as inflation rate) between 2015 to 2016?

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