A small economy only produces two goods: soda and pizza. This information is shown in the table. Based on the table, the growth rate of real GDP between 2010 and 2011 was: Soda Pizza 2010 Output 200 units 0.5%. 1.7%. 2.9%. X 4.1%. 50 units 2010 Prices $1 per unit $10 per unit 2011 Output 200 units 50 units 2011 Prices $1 per unit $11 per unit

A small economy only produces two goods: soda and pizza. This information is shown in the table. Based on the table, the growth rate of real GDP between 2010 and 2011 was: Soda Pizza 2010 Output 200 units 0.5%. 1.7%. 2.9%. X 4.1%. 50 units 2010 Prices $1 per unit $10 per unit 2011 Output 200 units 50 units 2011 Prices $1 per unit $11 per unit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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