uppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the otton is used to produce shirts. 2012 Statistics Quantity Price 100 $52.00 85 60 3.00 35.00 0.09 12,000 2020 Statistics Quantity 115 120 55 12,000 Product Shoes Hamburgers Shirts Cotton . If the base year is the year 2012, then real GDP for 2020 equals $ (round your answer to the nearest penny) Price $65.00 3.00 30.00 0.07 2021 Statistics Quantity Price 110 $70.00 135 3.50 75 30.00 13,000 0.08
uppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the otton is used to produce shirts. 2012 Statistics Quantity Price 100 $52.00 85 60 3.00 35.00 0.09 12,000 2020 Statistics Quantity 115 120 55 12,000 Product Shoes Hamburgers Shirts Cotton . If the base year is the year 2012, then real GDP for 2020 equals $ (round your answer to the nearest penny) Price $65.00 3.00 30.00 0.07 2021 Statistics Quantity Price 110 $70.00 135 3.50 75 30.00 13,000 0.08
Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter11: Measuring The Cost Of Living
Section: Chapter Questions
Problem 3PA
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