The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only bananas and coconuts. The base year is 2016. Calculate real GDP in 2015 and 2016 using the chained-dollar method. In terms of what dollars is each of these two real GDPS measured? Real GDP in 2016 using the chained-dollar method is S Real GDP in 2015 using the chained-dollar method is $ >>> Answer with a whole number Real GDP in 2015 and real GDP in 2016 are measured in dollars In 2015 Item Bananas Coconuts In 2016 Item Bananas Coconuts Quantity 99 bunches 53 bags Quantity 114 bunches 66 bags Price $10 a bunch $9 a bag Price $11 a bunch $10 a bag
The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only bananas and coconuts. The base year is 2016. Calculate real GDP in 2015 and 2016 using the chained-dollar method. In terms of what dollars is each of these two real GDPS measured? Real GDP in 2016 using the chained-dollar method is S Real GDP in 2015 using the chained-dollar method is $ >>> Answer with a whole number Real GDP in 2015 and real GDP in 2016 are measured in dollars In 2015 Item Bananas Coconuts In 2016 Item Bananas Coconuts Quantity 99 bunches 53 bags Quantity 114 bunches 66 bags Price $10 a bunch $9 a bag Price $11 a bunch $10 a bag
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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