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1. Calculate Nominal GDP, the price index, & Real GDP. Use year 1 as the base year Year Price Quantity Nominal GDP Price Index Real

1. Calculate Nominal GDP, the price index, & Real GDP. Use year 1 as the base year Year Price Quantity Nominal GDP Price Index Real GDP $25.00 20 NO $27.00 23 3 $32.00 19 4 $40.00 15 Paragraph B E

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