MACRO ASSIGNMENTS
(Mankiw 6e)
CHAPTER 10
Problem 4/214
(a)
The nominal GDP in each year:
2010: ($1 × 100) + ($2 × 50) = $200
2011: ($1 × 200) + ($2 × 100) = $400
2012: ($2 × 200) + ($4 × 100) = $800
The real GDP in each year (using 2010 as the base year):
2010: ($1 × 100) + ($2 × 50) = $200
2011: ($1 × 200) + ($2 × 100) = $400
2012: ($1 × 200) + ($2 × 100) = $400
