Year Q(Bicycles) Q(Computers) P(Bicycles) P(Computers) 2000 10 10 $12 $6 2001 15 8 $10 $8 2002 15 12 $10 $10 2003 14 15 $12 $12 a. Calculate nominal…

/in /by

$12

a. Calculate nominal GDP in 2000 and 2003

b. Calculate the growth rate in real GDP from 2000 to 2001, using 2000 as the base year

c. Calculate the growth in real GDP from 2002 to 2003, using 2003 as the base year

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