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Consider the following data for a hypothetical economy that produces twogoods, milk and honey. Quantity Produced Prices Milk (litres) Honey (kg) Milk ($/litre) Honey ($/kg)

Consider the following data for a hypothetical economy that produces twogoods, milk and honey.

Quantity Produced

Prices

Milk (litres)

Honey (kg)

Milk ($/litre)

Honey ($/kg)

Year 1

113

49

1

6

Year 2

129

69

4

7

Using year 1 as the baseyear, the 145.45% increase in nominal GDP may be explained by a

nothing

% increase in real GDP and a

nothing

% increase in prices. (Round your responses to two decimalplaces.)

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