BuyQualityEssays.com – ECON_002

Which of these goods enter into the GDP calculation? If they do, what component (C, I, G, NX)?

Category

GDP (Y/N)

Component

New Textbook

 

 

Shirt bought from Goodwill

 

 

Barley used by a microbrew

 

 

Going to Disneyland

 

 

Buying a newly build cabin

 

 

Selling a new Honda

 

 

Navy building a new ship

 

 

 

Calculate the following: Using Year 1 as the base year, calculate nominal GDP, real GDP, and i

inflation from the following:

Year

Price of X

    Qty of X

     Price of Y

    Qty of Y

Year 1

$3.11

      122

      $1.52

   144.00

Year 2

$3.97

       91

      $2.90

   83.00

Year 3

$5.52

      130        

     $4.54

   140.00

Year 4

$2.39

     148

   $1.52

   54.00

Year 5

$1.15

      76

   $2.86

  116.00