ASSIGNMENT 1.Suppose people consume 3 different goods. The following table shows the prices and quantities of each good consumed in 2019, 2020, and 2021. a.Calculate nominal GDP in each of the three years. b.Calculate Real GDP in each of the three years, using 2019 as the base year. c.Calculate the rate of inflation for 2020 […]
Compute the unweighted aggregate price index. Determine the actual percentage growth between the base period and the tenth period in your data for each item.
Case study As a group selects a recent case study with time series price data that includes two or more items to be analyzed. You can use data from your area of specialization and excel software. Use a sample size, which is not more than 15 and not less than 10 observations. After reading section […]