Consider the data shown in the table. Assume that the economy produces only frozen fish. What is the real GDP for last year using this year as the base year? tons of fish sold actual price last year 100 1800 this year 105 1850
Consider the data shown in the table. Assume that the economy produces only frozen fish. What is the real GDP for last year using this year as the base year? tons of fish sold actual price last year 100 1800 this year 105 1850
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 10QP
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Consider the data shown in the table. Assume that the economy produces only frozen fish. What is the real
tons of fish sold | actual price | |
last year | 100 | 1800 |
this year | 105 | 1850 |
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