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Price of X in 2000: 11
Quantity of X in 2000: 14
Price of Y in 2000: 54
Quantity of Y in 2000: 71
Price of X in 2001: 11
Quantity of X in 2001: 56
Price of Y in 2001: 61
Quantity of Y in 2001: 71
Price of X in 2002: 8
Quantity of X in 2002: 91
Price of Y in 2002: 63
Quantity of Y in 2002: 20
The base year is
2000
Find nominal GDP, real GDP, and the GDP deflator for all 3 years.
Scroll all the way down to see the solutions
Nominal GDP in 2000: 3988
Nominal GDP in 2001: 4947
Nominal GDP in 2002: 1988
Real GDP in 2000: 3988
Real GDP in 2001: 4450
Real GDP in 2002: 2081
GDP deflator in 2000:
100
GDP deflator in 2001:
111.16853932584
GDP deflator in 2002:
95.53099471408