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A simple economy produces four goods, pumpkins, pumpkin pies, televisions, and software pumpkin pies. Use the information in the following table to compute GDP for
A simple economy produces four goods, pumpkins, pumpkin pies, televisions, and software pumpkin pies. Use the information in the following table to compute GDP for the current year. Product Quantity pumpkins 1 1 0 pumpkin pies 220 televisions 900 software 1800 In this year, the nominal value of GDP in this economy is $El. . All of the production of pumpkins is used in the production of Price Per Unit $1.00 $4.00 $500.00 $30.00
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