2005 2010 Qty Produced Price Qty Produced Price Guns 80 $ 7 100 $ 8 Butter 50 $ 4 80 $ 6 Consider data in the table above for a country that produces only two products: guns and butter. Real GDP for 2010 using 2005 as the base year equals
2005 2010 Qty Produced Price Qty Produced Price Guns 80 $ 7 100 $ 8 Butter 50 $ 4 80 $ 6 Consider data in the table above for a country that produces only two products: guns and butter. Real GDP for 2010 using 2005 as the base year equals
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 7QR
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Question
2005 |
|
2010 |
|
|
|
Qty Produced |
|
Qty Produced |
Price |
Guns |
80 |
$ 7 |
100 |
$ 8 |
Butter |
50 |
$ 4 |
80 |
$ 6 |
Consider data in the table above for a country that produces only two products: guns and butter. Real GDP for 2010 using 2005 as the base year equals
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