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only answer for question 54. Calculate the Nominal GDP, Real GDP using 2019 as the base year, and the GDP Deflator. Year Price of Milk Quantity of Milk4. Calculate the Nominal GDP, Real GDP using 2019 as the base year, and the GDP Deflator. Year Price of Milk Quantity of Milk

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Nominal Gepp is Calculated for the current year NGB/2017 - poice 2017 x quantity 2017 2x10ot 4x200 = $ 1000 ^ GPP 2018 = /201NGPP2oog P2019 x 9 2019 4x120 + 6x220 $ 1800 Now RG PP 2017 P2014) X 9 2017 Always Constant bave year: 2019 :. R2017 4xloot 6Gopdzorg NG 1/2018 Rappo18 Xloo - 1240 12.00 1660 79.69 Gopd 2019 base . loo How; Inflation Rate (IR) 2017 to change in GeopdC). RGPP growth RGPP 2017 rate RG P P20g - RG 1/2017 (2017-2019) 1800- 1600 1600 X100 1 12.5t (^)

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