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2. Use the following table to solve the questions. [See page 27 of chapter 2] 2015 2015 2016 2016 2017 2017 Price Quantity Price Quantity

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2. Use the following table to solve the questions. [See page 27 of chapter 2] 2015 2015 2016 2016 2017 2017 Price Quantity Price Quantity Price Quantity Good A $30 900 $31 1000 $36 1050 Good B $100 192 $201 200 $100 205 a) Compute nominal GDP in each year. b) Compute real GDP in each year, using 2015 as the base year

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