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Prime University Department of Business Administration (MBA) Assignment

1. Nominal GDP was calculated as Tk. 1,21,250 based on current year quantities and prices of rice, wheat, and corn. 2. Real GDP was calculated as Tk. 1,02,670 based on current year quantities and base year prices of the outputs. 3. GDP deflator was calculated as 118.09 based on the nominal and real GDP values. 4. CPI was calculated as 119.04 based on comparing the total expenditure on pizza, soda, and burger using base year and current year prices and quantities.

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72 views4 pages

Prime University Department of Business Administration (MBA) Assignment

1. Nominal GDP was calculated as Tk. 1,21,250 based on current year quantities and prices of rice, wheat, and corn. 2. Real GDP was calculated as Tk. 1,02,670 based on current year quantities and base year prices of the outputs. 3. GDP deflator was calculated as 118.09 based on the nominal and real GDP values. 4. CPI was calculated as 119.04 based on comparing the total expenditure on pizza, soda, and burger using base year and current year prices and quantities.

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PRIME UNIVERSITY

Department of Business Administration


(MBA)
ASSIGNMENT
Course Title: BUSINESS ECONOMICS
Course Code: ECO-552
Submitted To: Jannatul Ferdous
(Assistant Professor)
Submitted By: Joy Saha
ID No. - 201020102049
Batch: 53rd
Program: MBA (36 Credit)
Dept. of MBA
Date of Submission-10.06.2020
Page 1|4
Assignment Topic
1. Based on the following Information calculate Nominal GDP, Real GDP and
GDP deflator.
Goods Current year Current year Base year price
Quantities price
Rice 100 tons Tk. 650 Tk. 580
Wheat 80 tons Tk.475 Tk. 379
Corn 50 tons Tk. 365 Tk. 287

2. Based on the following data calculate Consumer price Index (CPI).


Goods Base year Current year Base year price
Quantities price
Pizza 15 Tk. 25 Tk. 22
Soda 30 Tk.12.5 Tk. 10.9
Burger 22 Tk.35 Tk. 28

Page 2|4
Solution -1
Nominal GDP is the market value of at current price of a nation’s output of goods
and services.
Goods Current year Current year Total value of output
Quantities Price
Rice 100 tons Tk. 650 (100 tons* Tk. 650)=Tk.65,000
Wheat 80 tons Tk.475 (80 tons*Tk.475)= Tk.38,000
Corn 50 tons Tk. 365 (50 tons*Tk.365)= Tk.18,250
Answer: Nominal GDP= (65,000+38,000+18,250) =Tk.1,21,250
Real GDP =Quantity of output in current year quantities * price of the output in
base year.

Goods Current year Base year price Total value of output


Quantities
Rice 100 tons Tk.580 (100tons*Tk.580)=Tk.58,000
Wheat 80 tons Tk.379 (80 tons*Tk.379)=Tk.30,320
Corn 50 tons Tk.287 (50 tons*Tk.287)=Tk.14,350

Answer: Real GDP = (58,000+30,320+14,350) =Tk.1,02,670

Nominal GDP 1,21,250


GDP Deflator= Real GDP *100= 1,02,670 *100=118.09(Answer)

Solution-2:
Goods Base year Base year Base year Current Base year Current year
Page 3|4
basket price expenditure year price basket Expenditure
quantities quantities
Pizza 15 Tk.22 15*22=Tk.330 Tk.25 15 25*15=Tk.375
Soda 30 Tk.10.9 30*10.9=Tk.327 Tk.12.5 30 12.5*30=Tk.375
Burger 22 Tk.28 22*28=Tk.616 Tk.35 22 35*22=Tk.770
Total Tk.1273 Tk.1520

Base year basket quantities multiplies


by current year prices
CPI= Base year basket quantities multiplied *100
by base year prices

1520
CPI= 1273 *100=119.04(Answer)

Page 4|4

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