ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The fictional small country of Qbert has had a robust GDP the last few years. Dansbert produces just two
products; Water Bottles and Bikes. The following chart shows product quantities and prices from 2016 to
2018. With 2016 as the base year calculate the real GDP using 2018 prices. What is the real yearly growth of
2017 & 2018?
Water Bottles
Bikes
Quantity
Price/unit Quantity
Price/unit
$3
2 million
$10
Year 2016 (base year) 1 million
Year 2017
2.5 million
$4
2.5 million $12
Year 2018
3 million
$5
2.75 million $17
O 23.1% for 2017: 69.2% for 2018
O 73.9% for 2017: 168.5% for 2018
O 41.3% for 2017: 58.7% for 2018
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Transcribed Image Text:The fictional small country of Qbert has had a robust GDP the last few years. Dansbert produces just two products; Water Bottles and Bikes. The following chart shows product quantities and prices from 2016 to 2018. With 2016 as the base year calculate the real GDP using 2018 prices. What is the real yearly growth of 2017 & 2018? Water Bottles Bikes Quantity Price/unit Quantity Price/unit $3 2 million $10 Year 2016 (base year) 1 million Year 2017 2.5 million $4 2.5 million $12 Year 2018 3 million $5 2.75 million $17 O 23.1% for 2017: 69.2% for 2018 O 73.9% for 2017: 168.5% for 2018 O 41.3% for 2017: 58.7% for 2018
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