Test 1 Reference Material
Real GDP Calculation
You will need the following table to calculate real GDP ratios for two questions.
| Year | p(Taco) | c(Taco) | p(Banh mi) | c(Banh mi) |
|---|---|---|---|---|
| 2000 | $1 | 100 | $6 | 10 |
| 2001 | $2 | 105 | $5 | 15 |
| 2002 | $2 | 100 | $6 | 20 |
| 2003 | $2 | 95 | $4 | 40 |
| 2004 | $3 | 100 | $4 | 35 |
| 2005 | $5 | 105 | $3 | 50 |
| 2006 | $4 | 102 | $3 | 60 |
| 2007 | $4 | 105 | $2 | 75 |
| 2008 | $5 | 110 | $2 | 65 |
| 2009 | $6 | 108 | $3 | 72 |
| 2010 | $8 | 110 | $2 | 80 |