# Economics

Claculate REAL GDP GROSS DOMESTIC PRODUCT for each year (2005=100)

Year p q p q
2005 \$1 100 \$2 50
2006 \$2 150 \$3 100

1. 👍 0
2. 👎 0
3. 👁 36
1. Take a shot, what do you think. Hint: GDP is the sum of P*Q for each good. Hint 2: as 2005 is the base year, use 2005 prices for 2006 productions

1. 👍 0
2. 👎 0

## Similar Questions

1. ### Economics

The answer i got is : GDP grew 10% GDP for 2006 using 2005 as the base year increase by 20% real GDP grow? 10% If i'm right, let me know, if not, please show Calculation Thank You Use the following data to answer questions 1-3 (be

asked by John Price on December 1, 2008
2. ### Economics

Help The answer i got is : GDP grew 10% GDP for 2006 using 2005 as the base year increase by 20% real GDP grow? 10% If i'm right, let me know, if not, please show Calculation Thank You Use the following data to answer questions

asked by Randy Johnson on December 1, 2008
3. ### Alg2

he annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2%

asked by Rock on December 7, 2011
4. ### Alg2

The annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2%

asked by Rock on December 6, 2011
5. ### Alg2

the annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2%

asked by Rock on December 9, 2011
6. ### math

Help please!: By what factor (2x, 4x, etc.) would the per capita GGP have to be increased to U.S. per capita GGP to equal the U.S. GDP in 2005? This is the information I have: -the per capita GGP is 9297 billion -the U.S. per

asked by Mary on April 16, 2008
7. ### math

Help please!: By what factor (2x, 4x, etc.) would the per capita GGP have to be increased to U.S. per capita GGP to equal the U.S. GDP in 2005? This is the information I have: -the per capita GGP is 9297 billion -the U.S. per

asked by Alicia on April 15, 2008
8. ### economics

1. Use the following information to answer the questions below: Quantities Produced Prices CDs Tennis Racquets CDs Tennis Racquets Year 2004 100 200 20 110 Year 2005 120 210 22 120 a. Calculate real GDP using prices from 2004. By

asked by mack on August 10, 2010
9. ### Pre Calculus

In exercise 100, you are given the dollar value of a product in 2005 and the rate at which the value of the product is expected to change during the next 5 years. Use this Info. to write a linear equation that gives the dollar

asked by Emma on September 3, 2015
10. ### economics

Calculate REAL GDP for each year (2005=100). Yr. Price of/Qty. Price of/Qty. socks produced hats produced 2005 \$1 100 \$2 50 2006 \$2 150 \$3 100 2007 \$3 200 \$4 150

asked by Julie on April 15, 2008

More Similar Questions