The information in the table identifies the quantities of three goods produced in a simple economy in 2010 and 2011, and the prices that the goods sold for in each of the two years. The base year is 2010. Item Quantity 2010 Price 2010 Price 2011 Quantity 2011 Movie tickets 4 $11.8 $15 Bags of popcorn 6 $6.2 $8 8 Drinks of soda 4 $4.1 $6 Real GDP in 2011 is equal to how much? Enter a number rounded to one decimal place.
The information in the table identifies the quantities of three goods produced in a simple economy in 2010 and 2011, and the prices that the goods sold for in each of the two years. The base year is 2010. Item Quantity 2010 Price 2010 Price 2011 Quantity 2011 Movie tickets 4 $11.8 $15 Bags of popcorn 6 $6.2 $8 8 Drinks of soda 4 $4.1 $6 Real GDP in 2011 is equal to how much? Enter a number rounded to one decimal place.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 6CQQ
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