An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2012 and 2013. 2012 Bananas Coconuts 2013 Bananas Coconuts Quantity 100 185 Quantity 180 225 Price 10 18 Price 15 20 What is the growth rate of real GDP if 2013 is the base year?
An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2012 and 2013. 2012 Bananas Coconuts 2013 Bananas Coconuts Quantity 100 185 Quantity 180 225 Price 10 18 Price 15 20 What is the growth rate of real GDP if 2013 is the base year?
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 8SQP
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