28. Explain the approach (expenditure or income) that you used to calculate GDP. Use the following data

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28. Explain the approach (expenditure or income) that you used to calculate GDP. Use the following data to work Problems 29 to 31. An economy produces only apples and oranges. The base year is 2009, and the table gives the quantities produced and the prices. Quantities 2009 2010 Apples 60 160 Oranges 80 220 Prices 2009 2010 Apples $0.50 $1.00 Oranges $0.25 $2.00

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Parkin Macroeconomics

ISBN: B0070OLVAC

10th Edition

Authors: Michael Parkin

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