Good Hot Dogs Hamburgers Q 200 200 P $2 $3 Q 250 500 P $4 $4 a. compute nominal GDP for each year b. Using 2010 as the base year, compute real GDP for each year c. Compute Chained -weighted real GDP for 2011.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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1.
Good
Hot Dogs
Hamburgers
2010
Q
200
200
P
$2
$3
2011
Q
250
500
P
$4
$4
a. compute nominal GDP for each year
b. Using 2010 as the base year, compute real GDP for each year
c. Compute Chained -weighted real GDP for 2011.
Transcribed Image Text:1. Good Hot Dogs Hamburgers 2010 Q 200 200 P $2 $3 2011 Q 250 500 P $4 $4 a. compute nominal GDP for each year b. Using 2010 as the base year, compute real GDP for each year c. Compute Chained -weighted real GDP for 2011.
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