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ECO403 Assignment 1 Solution Fall 2021

Macroeconomics PDF 104 KBUpdated 23 Oct 2026
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Assignment ECO403 Assignment 1 Solution Fall 2021 PDF 104 KB
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ECO403 Macroeconomics
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23 Oct 2026
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ECO403 Assignment 1 Solution Fall 2021 · Solution · Formula Hint: Price x Quantity = Price Quantity

Nominal GDP for the year 2015 = 100 x 1000 + 70 x 700 = 100,000 + 49,000 = 149,000 Nominal GDP for the year 2016 = 105 x 1500 + 75 x 900 = 157,000 + 67,500 = 224,500 Nominal GDP for the year 2017 = 110 x 1700 + 80 x 1000 = 187,000 + 80,000 = 267,000

Solution · Formula Hint: Nominal GDP / Real GDP x 100 · Table 2 · Years · Nominal GDP · Real GDP · GDP deflator 2018 · Rs. 30,000 · Rs. 30,000 · 2019 · Rs. 35,000 · Rs. 33,000

GDP Deflator = Nominal GDP / Real GDP x 100

GDP Deflator = 35,000 / 33,000 x 100 = 106.06 · 2020 · Rs. 40,000 · Rs. 37,000

GDP Deflator = Nominal GDP / Real GDP x

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