-The Table Gives Data on the Production and Prices in a Small

question 248

Essay

-The table gives data on the production and prices in a small economy.Use 2012 as the base period.
a.What does nominal GDP equal in 2012?
b.What does real GDP equal in 2012?
c.What does nominal GDP equal in 2013?
d.Using the chained-price method,what does real GDP equal in 2013?

---

Definitions:

Validation Rules

Criteria that are set up in a database or input form to ensure that only valid data is entered.

Default Values

Pre-set values used by programs or functions that are used if no user-specified value is provided.

Formats

Predefined styles or templates for documents, files, or data that dictate their appearance or structure.

Title Bar

The horizontal bar at the top of a window in a graphical user interface that displays the name of the application or document.