Economics help needed with the price of barbancourt

Nov 8th, 2015
Price: $5 USD

Question description

Let the price of barbancourt (the haitian rum) be $15 a bottle in the year 2000 and$25 dollars in the year 2014, and its production 5,000 and 7,500 bottles respectively for the two years. Let the price of a bag of rice be $200 in 2000 and $350 in 2014, When its production is 10,000 and 25,000 bags for the same two years. Let the price of a bag of beans be $250 in 2000 and $400 in 2014, when its production is 8,000 and 20,000 bags of the two tears respectively. Using the year 2000 as the base year, compute:a. The Nominal GDP for both yearsb. The real GDP for both yearsc. The Implicit Price Deflator for GDP for both yearsd. The CPI for both years

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