Refer to the table below for a very simple economy producing three goods: movies, burgers and bikes. Steel bike frames are used for bike production and meat patties are used for making burgers. 2015 Quantity 2020 Quantity Product Steel frames Price Price $5000 $10 $10000 $7500 $15 $15000 10 20 Movies 30 50 Bikes 10 20 Meat patties Burgers 200 200 $1.50 $2.00 300 300 $2.00 $3.00 What is the nominal GDP in 2020? What was the nominal GDP in 2015? What is the real GDP in 2020 using 2015 prices as base year prices? What is the real GDP growth

Note:please bro,hand written solution should not be uploaded.

Suppose there are only 3 goods in the consumer basket. Based on the following table, answer the following (show your work for at least one year): Price and quantity for consumer's basket Goods Quantity Price 2015 Price 2016 Price 2017 $3.50 500 gallons gas candy bar 365 packs $3.25 $3/gallon $1/pack $0.90 $50 $1.20 internet 12 months $50/month $65 a. Calculate the cost of the market basket for all years. b. Consider 2015 as the Base Year and compute the Consumer Price Index (CPI) for each year. c. Use the CPI to calculate the inflation rate for 2017

Casey earns $150 a week and consumes only fish and shrimp. The price of fish is $3 a pound and the price of a shrimp is $5 a pound. Casey can buy a maximum of ____________ pounds of fish or a maximum of ___________ pounds of shrimp. a. 30; 50 b. 15; 30 c. 30; 15 d. 50; 30

The following graph shows the market for hard drugs, such as heroin, cocaine etc. Use the given information to answer questions 26 - 29. Price of hard drugs Demand $6 $4 Quantity of hard drugs 96 104 Question 26 Calculate the price elasticity of demand when price increases from $4 to $6. Use mid- point method. Question 27 Price increases from $4 to $6. Is the demand price elastic? ( Select ) >

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Suppose that Saudi Arabia produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that India produces 12857 barrels12857 barrels of oil and 12857 bushels12857 bushels of wheat each week. In autarky, what is the largest amount of wheat Saudi Arabia can consume every week?

The residents of Freedonia currently are consuming seven goods; yogurt, green tea, tofu, bean sprouts, cookie dough ice cream, Tito's Handmade Vodka and housing. The prices and quantities for these goods are given in the following table. Good Yogurt Green Tea Tofu Bean Sprouts Cookie Dough Quantity 3 7 18 Ice Cream Tito's Handmade I Vodka Housing 2018 2 Price 2.40 0.60 1.20 1.00 3.50 22.10 500.00 Quantity 4 9 20 4 7 I 2019 2 Price 2.86 0.72 4.80 1.20 4.00 21.35 505.00 Quantity 6 10 22 6 8 2 2020 2 a. Suppose that 2019 is the base year. Calculate the price index for 2018, 2019 and 2020. b. Determine the rate of inflation for 2019. Determine the rate of inflation for 2020. Price 3.01 0.80 5.10 1.25 4.60 25.50 512.00

5

Suppose there are only 3 goods in the consumer basket. Based on the following table, answer the following (show your work for at least one year): Price and quantity for consumer's basket Goods Quantity Price 2015 Price2016 Price 2017 $3.25 500 gallons $3/gallon $3.50 gas candy bar 365 packs $1.20 $1/pack $0.90 $50 internet 12 months $50/month $65 a. Calculate the cost of the market basket for all years. b. Consider 2015 as the Base Year and compute the Consumer Price Index (CPI) for each year. c. Use the CPI to calculate the inflation rate for 2017