Exam 6: National Income Accounting

The table given below lists the price per unit and output of computers and calculators (the only two goods produced by a nation)for the years 1995 and 2003. Table 5.6 Refer to Table 5.6.What is the nominal GDP for 2003?

When estimating GDP, changes in the level of inventory are calculated because:

The value of a price index in the base year will always be zero.

The table given below reports the value of different economic variables of a country during a year. Table 5.4 Refer to Table 5.4.Calculate the national income of this country.