Ok so this probably seems easy but I am not sure how to work these. We are given a table with data
Price Paper Price
2010 2 100 2.5
2011 3 125 3
2012 4 150 3.5
we are usig 2011 as base year
a) what is nomial GDP?
b) Real GDP?
c) GDP Price Index
d) CPI
Is nomial just multiplying the 2 numbers?
Price index divide by base year and multiply by 100?
I am not sure how to determine the others.
Thanks for any help?
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