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Consider an economy that produces only two goods, soft drinks and hamburgers. The following price and quantity statistics are available about this economy: Year Hamburgers
Consider an economy that produces only two goods, soft drinks and hamburgers. The following price and quantity statistics are available about this economy:
Year
Hamburgers
Soft Drinks
2015
Price = $2.00; Quantity = 2000
Price = $0.50; Quantity = 2000
2016
Price = $2.25; Quantity = 2000
Price = $0.50; Quantity = 2200
Taking 2015 as the base year, find the growth rate of the constant-price GDP in 2016. Round to the nearest whole percent and enter just the number with no symbols.
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