Only two goods are produced in Macroland - Pens and Notepads. Given below are the quantities and prices of these goods in the years 2016 and 2017 Price (2016) Quantity (2016) Price (2017) Quantity (2017) Pens 300 1.5 325 Notepads 200 250 Assume 2016 is the base year. Calculate the Real GDP for the year 2017. O s900 $1487.5 O $1075 O $100

Only two goods are produced in Macroland - Pens and Notepads. Given below are the quantities and prices of these goods in the years 2016 and 2017 Price (2016) Quantity (2016) Price (2017) Quantity (2017) Pens 300 1.5 325 Notepads 200 250 Assume 2016 is the base year. Calculate the Real GDP for the year 2017. O s900 $1487.5 O $1075 O $100

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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