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DIRECTIONS Each section below contains problems associated with a particular aspect of GDP. Use your knowledge of GDP to answer cach question. You may use

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DIRECTIONS Each section below contains problems associated with a particular aspect of GDP. Use your knowledge of GDP to answer cach question. You may use a calculator if needed. NOMINAL GDP AND REAL GDP 1) The following tables list GDP data for a fictional economy in two different years. Pretend this economy only produces these three items . What is the nominal GDP each year

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