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

Figures

Log GDP per capita

Capital/output ratio

Gross capital formation share of GDP

Labors share of costs