posted 10 months ago

a. The values for GDP, GNP, and NNP.

b. The values for national income, personal income, and disposable personal income.

posted 10 months ago

Calculate the value for this economy's real GDP in year 2 and the values for this economy's GDP deflator in year 1 and year 2.

Calculate the value for this economy's real GDP in year 3

posted 10 months ago

posted 10 months ago

Then convert the results into an index for each year using 2017 as the base year.(Calculate total spending and price index for 2017, 2018 and 2019.)

Calculate the percentage rate of change of the price level from 2018 to 2019 and from 2017 to 2018.

Now suppose that the base year is 2019. Recalculate the price index for 2017, 2018, and 2019.

Using the index with the 2019 base year, calculate the percentage rate of change of the price level from 2018 to 2019 and from 2017 to 2018.