Sign up for your FREE 7-day trial.Get instant access to all the benefits of SparkNotes PLUS! Cancel within the first 7 days and you won't be charged. We'll even send you a reminder.
SparkNotes Plus subscription is $4.99/month or $24.99/year as selected above. The free trial period is the first 7 days of your subscription. TO CANCEL YOUR SUBSCRIPTION AND AVOID BEING CHARGED, YOU MUST CANCEL BEFORE THE END OF THE FREE TRIAL PERIOD. You may cancel your subscription on your Subscription and Billing page or contact Customer Support at custserv@bn.com. Your subscription will continue automatically once the free trial period is over. Free trial is available to new customers only.
Step 2 of 4
Choose Your Plan
Step 3 of 4
Add Your Payment Details
Step 4 of 4
Payment Summary
Your Free Trial Starts Now!
For the next 7 days, you'll have access to awesome PLUS stuff like AP English test prep, No Fear Shakespeare translations and audio, a note-taking tool, personalized dashboard, & much more!
Thanks for creating a SparkNotes account! Continue to start your free trial.
Please wait while we process your payment
Your PLUS subscription has expired
We’d love to have you back! Renew your subscription to regain access to all of our exclusive, ad-free study tools.
Did you know you can highlight text to take a note?x
Problem :
Figure %: Goods and Services Produced in Country C
Calculate the nominal GDP for Country C in year 2.
([(15 X $1) + (12 X $2)] = $39
Problem :
Using , calculate the real GDP for Country C in year
2, using year 1 as the base year.
(15 X $0.50) + (12 X $1) = $19.50
Problem :
Using , calculate the GNP for Country C in year 3 if
candy is produced by foreigners.
(20 X $1.50) = $30
Problem :
Using , calculate the GDP deflator for year 2 using
year 1 as the base year.
GDP deflator = [(nominal GDP) / (real GDP)] – 1
Nominal GDP for year 2 = ($1 X 15) + ($2 X 12) = $39
Real GDP for year 2 = ($.50 X 15) + ($1 X 12) = $19.50
