The economy of Tuland produces only two products apples and dvds. The following information is available for production and prices of Tuland's products for the years 2009 and 201C 2009 2010 Quantity of apples Quantity of dvds Price of apples Price of dvds 10 11 $1.00 $1.05 $40.00 $36.00 Using above information, calculate the following values. Real GDP for 2009 using 2009 as base year equals $ (Enter your response rounded to two decimal places.) Real GDP for 2009 using 2010 as base year equals $ (Enter your response rounded to two decimal places.) Real GDP for 2010 using 2009 as base year equals $ (Enter your response rounded to two decimal places.)

The economy of Tuland produces only two products apples and dvds. The following information is available for production and prices of Tuland's products for the years 2009 and 201C 2009 2010 Quantity of apples Quantity of dvds Price of apples Price of dvds 10 11 $1.00 $1.05 $40.00 $36.00 Using above information, calculate the following values. Real GDP for 2009 using 2009 as base year equals $ (Enter your response rounded to two decimal places.) Real GDP for 2009 using 2010 as base year equals $ (Enter your response rounded to two decimal places.) Real GDP for 2010 using 2009 as base year equals $ (Enter your response rounded to two decimal places.)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 1QR

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