How much did RGDP increase from 2006 to 2007, using 2004 as the base price year?

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter15: Gross Domestic Product
Section: Chapter Questions
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Use the information below and the data in the table to answer questions 6
through 10.
Beginning in 2004, people in Vidinstan began producing a third good, borjin, in
addition to sladke and gamza. Borjin is sold in individual units. The table
below shows the number of tons of sladke, liters of gamza, and units of borjin
sold each year from 2004 to 2007. In 2004, sladke cost $10 per ton, gamza
cost $2 per liter, and borjin cost $0.50 per unit.
Year Sladke (in tons) Gamza (in liters) Borjin (in units)
2004 95
600
4,000
2005 100
620
4,500
2006 97
600
4,300
2007 102
650
5,000
How much did RGDP increase from 2006 to 2007, using 2004 as the base-
price year?
Answer here
Transcribed Image Text:Use the information below and the data in the table to answer questions 6 through 10. Beginning in 2004, people in Vidinstan began producing a third good, borjin, in addition to sladke and gamza. Borjin is sold in individual units. The table below shows the number of tons of sladke, liters of gamza, and units of borjin sold each year from 2004 to 2007. In 2004, sladke cost $10 per ton, gamza cost $2 per liter, and borjin cost $0.50 per unit. Year Sladke (in tons) Gamza (in liters) Borjin (in units) 2004 95 600 4,000 2005 100 620 4,500 2006 97 600 4,300 2007 102 650 5,000 How much did RGDP increase from 2006 to 2007, using 2004 as the base- price year? Answer here
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