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For 2002,the Kwakian Economy Had the Following Nominal Quantities (In

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For 2002,the Kwakian economy had the following nominal quantities (in billions of dollars)and price indexes (1997 = 100)for each category of expenditure:
 Nominal Value  Price Index  Consumption 423.1125.1 Fixed investment 112.0111.0 Government purchases 165.8123.2 Exports 180.4100.9 Imports 186.797.2 Change in inventories 3.28111.0\begin{array} { l c c } & \text { Nominal Value } & \text { Price Index } \\\hline \text { Consumption } & 423.1 & 125.1 \\\text { Fixed investment } & 112.0 & 111.0 \\\text { Government purchases } & 165.8 & 123.2 \\\text { Exports } & 180.4 & 100.9 \\\text { Imports } & 186.7 & 97.2 \\\text { Change in inventories } & - 3.28 & 111.0 \\\hline\end{array}
a.Calculate the real quantity for each category (to one decimal point).
b.Calculate nominal and real GDP.
c.Find the implicit price deflator (1997 = 100).

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a.Real C = 423.1/1.251 = 338.2;real fixe...

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