Oranges Price of Shirts Price of Year Produced Oranges Produced Shirts 2019 (base) 1,800 $0.90 110 $30.00 2020 2021 2,000 $1.00 110 $35.00 2,100 $1.08 100 $36.00 Consider the data shown above for Nozomi, a country that produces only two products: oranges and shirts. Pick up 2019 as the base year. The real GDP in 2021 is $ and the GDP deflator in 2021 is

Oranges Price of Shirts Price of Year Produced Oranges Produced Shirts 2019 (base) 1,800 $0.90 110 $30.00 2020 2021 2,000 $1.00 110 $35.00 2,100 $1.08 100 $36.00 Consider the data shown above for Nozomi, a country that produces only two products: oranges and shirts. Pick up 2019 as the base year. The real GDP in 2021 is $ and the GDP deflator in 2021 is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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