Suppose there are only three goods in this closed economy that does not trade with other countries:
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Question:
Suppose there are only three goods in this closed economy that does not trade with other countries: energy drinks (Consumption), computers (Investment), and public highways (Government). Over a two-year period, the amount spent on these items have changed. Based on information in the table below, determine nominal and real GDP for this simple economy.
Related Book For
Microeconomics
ISBN: 978-1464187025
2nd edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
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