Please enter only numbers (no commas, dollar signs etc) in the spaces provided. Calculate the real GDP for 2011.____ Calculate the real GDP for 2012.____ Calculate the real GDP for 2013.____ Calculate the growth rate in real GDP for 2012. (Using 1 decimal place). ____% Calculate the growth rate in real GDP for 2013. (Using 1 decimal place). ____%
Please enter only numbers (no commas, dollar signs etc) in the spaces provided. Calculate the real GDP for 2011.____ Calculate the real GDP for 2012.____ Calculate the real GDP for 2013.____ Calculate the growth rate in real GDP for 2012. (Using 1 decimal place). ____% Calculate the growth rate in real GDP for 2013. (Using 1 decimal place). ____%
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter11: Price And Output Determination: Monopoly And Dominant Firms
Section: Chapter Questions
Problem 1E
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Question
Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton.
2011 | 2012 | 2013 | ||||
Product | Quantity | Price | Quantity | Price | Quantity | Price |
Textbooks | 90 | $50 | 100 | $60 | 100 | $65 |
Hamburgers | 75 | 2 | 100 | 2 | 120 | 2.25 |
Shirts | 50 | 30 | 50 | 25 | 65 | 25 |
Cotton | 100 | 0.80 | 800 | 0.60 | 120 | 0.70 |
Please enter only numbers (no commas, dollar signs etc) in the spaces provided.
Calculate the real GDP for 2011.____
Calculate the real GDP for 2012.____
Calculate the real GDP for 2013.____
Calculate the growth rate in real GDP for 2012. (Using 1 decimal place). ____%
Calculate the growth rate in real GDP for 2013. (Using 1 decimal place). ____%
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