Question

Question 12 (1 point) Saved Suppose a small island near the Middle East produces oil, which is extracted from the ground, and olive oil, from all of the olives grown on the island. The information in the following table shows the amount of oil, olive oil, and olives produced in 2008, 2018, and 2019. Calculate real GDP for 2019 using 2008 as the base year for the calculations. Provide your answer in dollars rounded to two decimal places. Do not include any symbols, such as "$," "=," "%," or "," in your answer. 2008 2018 2019 Product Quantity Price Quantity Price Quantity Price Oil (in barrels) 26 $90 34 $115 39 $96 Olive Oil (in bottles) 100 10 130 10 135 14 Olives in bushels) 50 4 655 65 8 Your Answer: 5120 Answer Question 13 (1 point) Saved Suppose a small island near the Middle East produces oil, which is extracted from the ground, and olive oil, from all of the olives grown on the island. The information in the following table shows the amount of oil, olive oil, and olives produced in 2008, 2018, and 2019. Calculate nominal GDP for 2019 using 2008 as the base year for the calculations. Provide your answer in dollars rounded to two decimal places. Do not include any symbols, such as "$," "=," "%," or "," in your answer. 2008 2018 2019 Product Quantity Price Quantity Price Quantity Price Oil (in barrels) 28 $81 36 $114 39 $91 Olive Oil (in bottles) 100 10 130 10 135 12 Olives (in bushels) 50 3 656 65 7 Your Answer: 5624 Answer

Answer 1

Given table:.n Loo8 2018 Quanfity 2019 price oity prke qntity Pice patnkuct 2.6 $115 S4 "39 olive dil (in 10 130 135 10 100 14 berries Olive oilCin banies 65 65 50 >Nomal GDP of 2018 taking 2008 a4 the base year = goods of 2018 X parice f, 2008 => (90x34}+ (1ox130)+(4x65) 3060 + 1300+260 $ 4,620 Calculato the nomal GDP Por 2019 sing 2008 year for the calculations, provide 13 as the base answer in dollaro golended to tuo decimal places.

Given Tablei- 2008 2018 2019 product Quantty poüce Quantity paice Quantity poica Gil fin beories) $144 39 $81 36 o tive sil (in bottles) 100 10 130 35 12 10 Orlive otle 65 65 Cin bottlea) 9 Real GOP for 2019 oing 2008 as the bje year goods of 2019x poicef 2D08 (B1x 39 J+ (Ox135)+@x65] 3159+1350+195 41704