ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Suppose there is a very small country called Micro-opolis. It makes only two goods: cell phones and pears. Their prices and quantities are the following:
Pears Pears Phones Phones
2019 $2 100 $200 100
2020 $2.50 110 $225 110
2021 $3 120 $250 120
If 2019 is the base year, what is the growth in real
A. 9.1%
B. 31.8%
C. 35%
D. 45%
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