Pindorama produces only rice and beans. Prices and quantities valid in 2021 are shown below. Price of rice (lb) 2021 $1

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Pindorama produces only rice and beans. Prices and quantities valid in 2021 are shown below. Price of rice (lb) 2021 $1

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Pindorama Produces Only Rice And Beans Prices And Quantities Valid In 2021 Are Shown Below Price Of Rice Lb 2021 1 1
Pindorama Produces Only Rice And Beans Prices And Quantities Valid In 2021 Are Shown Below Price Of Rice Lb 2021 1 1 (66.04 KiB) Viewed 21 times
Pindorama produces only rice and beans. Prices and quantities valid in 2021 are shown below. Price of rice (lb) 2021 $1 2022 $1.20 Quant. of rice produced (lb) 1000 1200 Price of beans (lb) $1.50 $2.50 Quant. of beans produced(lb) 500 700 a. What was the nominal GDP in 2022? b. What was the real GDP in 2022, using 2021 as the base year? c. How much did Pindorama's GDP grow from 2021 to 2022? d. What was the GDP deflator for 2022? e. Pindorama's citizens consume only rice and beans: their typical basket is 5 lb of rice and 3 lb of beans. In these circumstances, how much was Pindorama's CPI in 2022, using 2021 as the base year?
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