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Considering 2017 prices as the base year prices, the price of good x in 2017 was $2, and 200 units of x were produced. In
Considering 2017 prices as the base year prices, the price of good x in 2017 was $2, and 200 units of x were produced. In 2018, the price of good x was raised to $4, and 150 units of x were produced. Which of the following is true about the real GDP?
The impact on the real GDP cannot be determined. The percentage decrease in the real GDP is 25%. The percentage increase in the real GDP is 25%. The percentage increase in the real GDP is 50%. The real GDP remains constant.
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