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Task 3 Task 4

The document outlines the requirements for Tutorial Task 3 and Task 4, which involve calculating nominal GDP, real GDP, and GDP deflator for a small nation producing bread and eggs over three years. Students are required to submit their answers as a PDF document on Moodle by June 7, 2024, with a total of 100 marks available. The tasks include computations using both 2018 and 2020 as base years for comparison.

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5 views

Task 3 Task 4

The document outlines the requirements for Tutorial Task 3 and Task 4, which involve calculating nominal GDP, real GDP, and GDP deflator for a small nation producing bread and eggs over three years. Students are required to submit their answers as a PDF document on Moodle by June 7, 2024, with a total of 100 marks available. The tasks include computations using both 2018 and 2020 as base years for comparison.

Uploaded by

dariyatemirgalieva92
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Tutorial Task 3 & Tutorial Task 4

Answer the following Questions and upload your answers on Moodle through the
Submission Link provided for your respective tutorials. You must type your answers and
upload as a PDF document. Diagrams can be drawn by hand and included in the main
document as a picture.

Due date: Friday, 7th June 2024, 6:00 pm (Dubai time)

Total Marks & Weighting: 100 marks (5% weight in overall grade)

Question (100 pts)

Suppose that a small nation produces and consumes only two goods, as shown in this

table.

Bread Egg
Quantity Price Quantity Price
2018 130 $2 80 $3
2019 110 $3 100 $5
2020 150 $4 90 $7

Task 3

A. Compute nominal GDP, real GDP and the GDP deflator for each year, using
2018 as the base year. (25 pts)
B. Using 2018 as the base year, compute the percentage change in nominal
GDP and real GDP in 2019 and 2020. (25 pts)

Task 4
C. Compute nominal GDP, real GDP and the GDP deflator for each year, using
2020 as the base year. (25 pts)
D. Using 2020 as the base year, compute the percentage change in nominal
GDP and real GDP in 2019 and 2020. (25 pts)

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