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Author Question: Table 8-23 Refer to Table 8-23.Suppose that a very simple economy produces three goods: pizzas, ... (Read 43 times)

CORALGRILL2014

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Table 8-23









Refer to Table 8-23. Suppose that a very simple economy produces three goods: pizzas, haircuts, and backpacks. Suppose the quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above. Use the information to compute real GDP in the year 2011 and 2016. Assume that 2011 is the base year. Is output higher in 2016 or 2011? Why?



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Marked as best answer by CORALGRILL2014 on Mar 16, 2019

mbcrismon

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CORALGRILL2014

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Reply 2 on: Mar 16, 2019
YES! Correct, THANKS for helping me on my review


TheNamesImani

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Reply 3 on: Yesterday
:D TYSM

 

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