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Calculate south africa nominal gdp in 2018 and 2019

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Reference no: EM132655833

Suppose that South Africa produces only two goods, sanitisers and masks. The base year is 2018 and the table below gives the quantities produced and their prices in Rands.

Quantities 2018 2019
Sanitisers 1 000 units 1 200 units
Masks 2 000 units 2 200 units
Prices
Sanitisers R 15/unit R 20/unit
Masks R 5/unit R 10/unitts

Calculate South Africa's nominal GDP in 2018 and 2019.

By how much did nominal GDP increase between 2018 and 2019?

Calculate the real GDP in 2019.

Calculate the GDP deflator in 2019.

Reference no: EM132655833

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