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Consider the following data for a hypothetical economy that produces two goods, cider and cheese. Quantity Produced Prices Cider (litres) Cheese (kg) Cider ($/litre) Cheese

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Consider the following data for a hypothetical economy that produces two goods, cider and cheese. Quantity Produced Prices Cider (litres) Cheese (kg) Cider ($/litre) Cheese ($/kg) Year 1 110 48 2 6 Year 2 130 62 -A Using year 1 as the base year, the 87.80% increase in nominal GDP may be explained by a |% increase in real GDP and a % increase in prices. (Round your responses to two decimal places.)

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