AutoSave On . econ question for course – Last Saved 2019-01-23 6:40 PM – Table Tools Junior Menendez F X File Home Insert Design Layout References

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AutoSave On .econ question for course – Last Saved 2019-01-23 6:40 PM -Table ToolsJunior MenendezFXFileHomeInsertDesignLayoutReferencesMailingsReviewViewHelpDesignLayoutTell me what you want to doShareCalibri (Body)11 – A A AarAaBbCcDcAaBbCcDc AaBbCoX2 X? A-Heading 1EdiPasteBIU . abeary1 Normal1 No Spac…DictateALClipboardGFontParagraphStylesVoiceEcon questionGood (Q)201220132014Grape(farmed acres)151712Ice wine(silos)4414Maple syrup(gallons)3530Prices201220132014Grapes191820Ice wine303432Maple syrup202224a)Calculate the nominal GDP for this economy for each of the three years 2012, 2013, and 2014. Clearlyindicate what formula you have used.b) Using 2013 as the base year calculate the “real” or “constant-price” GDP for each of the three years.Again, clearly indicate what formula you have used.c) Calculate the real-GDP growth rate for 2012 – 2013 and for 2013-2014. State whether these areperiods of recession or expansion. d) Calculate the price inflation from 2012-2013 and from 2013-2014.Page 1 of 1121 wordsEnglish (Canada)100%

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