The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of fish Quantity of watches Price of fish Price of watches 120 126 60 75 $10.00 $30.00 $11.50 $33.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices $3000 GDP for 2009 in 2010's prices $3360 GDP for 2010 in 2009's prices $ 3510 GDP for 2010 in 2010's prices

The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of fish Quantity of watches Price of fish Price of watches 120 126 60 75 $10.00 $30.00 $11.50 $33.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices $3000 GDP for 2009 in 2010's prices $3360 GDP for 2010 in 2009's prices $ 3510 GDP for 2010 in 2010's prices

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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