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Measuring the Economy 1
  
 
Problems
Problem 1.1:
Figure K.1: Goods and Services Produced in Country C
Calculate the nominal GDP for Country C in year 2. [Solution]
Problem 1.2: Using figure 11.2, calculate the real GDP for Country C in year 2, using year 1 as the base year. [Solution]
Problem 1.3:
Using figure 11.2, calculate the GNP for Country C in year 3 if candy is produced by foreigners.
[Solution]
Problem 1.4: Using figure 11.2, calculate the GDP deflator for year 2 using year 1 as the base year. [Solution]
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