A country produces milk and butter, and it has published the following macroeconomic data. Year 1 Year 2 Good Quantity Price Quantity Price Milk 500 2 900 3 Butter 2000 1 3000 2 Between Year 1 and Year 2, the percent change in real GDP (based on Year 1 as a base year) was A) 58%. B) 60%. C) 130%. D) 190%.
A country produces milk and butter, and it has published the following macroeconomic data. Year 1 Year 2 Good Quantity Price Quantity Price Milk 500 2 900 3 Butter 2000 1 3000 2 Between Year 1 and Year 2, the percent change in real GDP (based on Year 1 as a base year) was A) 58%. B) 60%. C) 130%. D) 190%.
Chapter1: Making Economics Decisions
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![1. A country produces milk and butter, and it has published the following
macroeconomic data.
Year 1
Year 2
Good
Quantity Price
Quantity Price
Milk
500
2
900
3
Butter
2000
1
3000
2
Between Year 1 and Year 2, the percent change in real GDP (based on Year 1
as a base year) was
A) 58%.
B) 60%.
C) 130%.
D) 190%.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe0a5aa7-b216-483d-a0cc-50be962417be%2Fba1f6610-fd3f-4d97-9252-6d76702ecbde%2F5uhmj79_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. A country produces milk and butter, and it has published the following
macroeconomic data.
Year 1
Year 2
Good
Quantity Price
Quantity Price
Milk
500
2
900
3
Butter
2000
1
3000
2
Between Year 1 and Year 2, the percent change in real GDP (based on Year 1
as a base year) was
A) 58%.
B) 60%.
C) 130%.
D) 190%.
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