The economy Tuland produces apples products applosand digital caioeras Tho Mowin

Question

The economy Tuland produces apples products applosand digital caioeras Tho Mowing informaton is available for producton and pneos of Tuland's products for tho year 2009 and 2010. Using above information,calculate the fallowing values. Roal GDP for 2009 using 2009 as base year equals $ Square (enter your response round to two decimal place) Roal GDP for 2009 using 2010 as base year equals $ Square (enter your response round to two decimal places) Roal GDP for 2010 using 2009 as base year equals $ Square (enter your response round to two decimal place) Roal GDP for 2010 using 2010 as base year equals $ Square (enter your response round to two decimal places) Roal GDP growth rate using 2009 as base year equals Square% (enter your response round to two decimal place) Roal GDP growth rate using 2010 as base year equals Square% (enter your response round to two decimal places) The arithmetic average of the growth rates equals Square%(enter your response round to two decimal places)

Explanation / Answer

1. Real GDP for 2009 using 2009 as base year is= (quantity of apples x price of apples)+ (quantity of digital camera X price of digital camera) = (100x5)+(10x40)= 500+400= $900.

2. Real GDP for 2009 using 2010 as base year= (QA of 2009 x PA of 2010)+ (QDIgi Cam 2009 x price of Digi Cam 2010) = ( 100x5.25)+(10x24)= 525+240= $ 765.

3. Real GDP 2010 using 2009 as base year = (QA2010 x PA2009) + (Q Digi Cam2010 x Price of Digicam 2009) = (105x5) +(15x40)= 525+600= $1125.

4. Real GDPof 2010 using 2010 as base year= (QA2010 x PA 2010)+ (QDigicam 2010 x Pof Digicam 2010)= (105x5.25)+(15x24) =551.25+360= $ 911.25.

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