The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 2011 2012 T-Shirts Red Bull (cans) Pizza (slices) Nominal GDP in 2011 was t Quantity 100 540 1030 $$and nominal GDP in 2012 was $(Enter your responses as integers) Price $25 $1 $3 if 2011 is the base year, real GDP in 2011 was $ and real GOP in 2012 was $ Based on your answer above, the percentage change in real GDP between 2011 and 2012 was Quantity 120 540 950 (Enter your responses as integers) Price $25 $2 $6 percent (Round your response to two decimal places and use a minus sign if necessary)

The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 2011 2012 T-Shirts Red Bull (cans) Pizza (slices) Nominal GDP in 2011 was t Quantity 100 540 1030 $$and nominal GDP in 2012 was $(Enter your responses as integers) Price $25 $1 $3 if 2011 is the base year, real GDP in 2011 was $ and real GOP in 2012 was $ Based on your answer above, the percentage change in real GDP between 2011 and 2012 was Quantity 120 540 950 (Enter your responses as integers) Price $25 $2 $6 percent (Round your response to two decimal places and use a minus sign if necessary)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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