Calculating GDP 2 The following table has production and prices for Pangea for three years: Product 2015 Output 2015 Prices Coffee mugs Burgers Aspirin bottles 900 600 500 $14.00 $ 7.5.00 $ 6.00 Calculate Real GDP for each year, using 2016 as the Base Year: Instructions: Enter your answer as a
Calculating GDP 2 The following table has production and prices for Pangea for three years: Product 2015 Output 2015 Prices Coffee mugs Burgers Aspirin bottles 900 600 500 $14.00 $ 7.5.00 $ 6.00 Calculate Real GDP for each year, using 2016 as the Base Year: Instructions: Enter your answer as a
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
I couldn't screen shot it all but the rest is:
2016 2017
mugs 1,000 $12.00 1,200 $15.00
Burgers 700 $9.00 800 $8.00
Aspirin 500 $6.00 400 $5.00

Transcribed Image Text:Calculating GDP 2
The following table has production and
prices for Pangea for three years:
Product 2015 Output 2015 Prices
Coffee mugs
900
$ 14.00
Burgers
600
$ 7.5.00
Aspirin
500
$ 6.00
bottles
Calculate Real GDP for each year, using
2016 as the Base Year:
Instructions: Enter your answer as a
whole dollar amount.
a. 2015 Real GDP = $
b. 2016 Real GDP = $
c. 2017 Real GDP = $
110
21900
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