Economics

Production and Price Statistics for 2022

 Product

Mineral Fuels (petrol) Plastics

Aluminum

Honey

Wheat

Bicycle

Tires of bicycle Furniture Wood

Quantity

400 barrels 7000 mils 499 ft3 860 kg 677 kg 350 pcs 440 pcs 560 pcs 1095 pcs

Price per unit in 2022 (In Riyals)

80 2.50 30 90 2.50 190 3.50 2500 25

Market value in 2022

Price per unit in 2020 (In Riyals)

50 3.15 25 65 1.00 125 2.10 2000 13.70

                                              a. Complete the fourth column (market value) of the above table.

b. Identify final and intermediate goods.

c. Calculate Saudi Arabia’s nominal GDP in 2022.

d. Calculate Saudi Arabia’s real GDP in 2022.