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An economy produces only cell phones and tablets with their resources. The quantity produced and price for these products are given in the table below:
An economy produces only cell phones and tablets with their resources. The quantity produced and price for these products are given in the table below: Quantity of Cell Phones Price for Cell Phones Quantity of Tablets Price for Tablets 2017 800 $180 400 $200 2018 820 $200 410 $210 2019 830 $220 415 $215 Assuming 2017 as your base year calculate the following: Nominal GDP for 2017, 2018 and 2019 Real GDP for 2017, 2018 and 2019 GDP Deflator for 2017, 2018 and 2019
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