# HW_chap_5_additional_[1] - \$1.00 \$1.25 of price of spoons...

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Econ 100 San Francisco State HW Chapter 5 You do not need to turn this problem in to me, but you can assume that there will be a problem very similar to it in either a quiz or an exam. It would greatly benefit your to do it. Table 1 shows some facts about an economy that only produces forks and spoons: Table 1: Facts about the fork and spoon economy 2000 2005 # of forks 15 20 price of forks
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Unformatted text preview: \$1.00 \$1.25 # of spoons 13 17 price of spoons \$3.25 \$2.75 population 13 7 1) Calculate nominal GDP for 2000 and 2005. 2) Calculate real GDP for 2000 and 2005 using 2000 as a base year 3) Calculate real GDP per capita using 2000 as a base year 4) Calculate real GDP for 2000 and 2005 using 2005 as a base year 5) Calculate real GDP per capita using 2005 as a base year...
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