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GDP Data for a Simple Economy Quantity Produced Price Year Cars Computers Cars Computers 2011 40 1000 $22000 $800 2012 44 1200 $24000 $750 Use

GDP Data for a Simple Economy Quantity Produced Price Year Cars Computers Cars Computers 2011 40 1000 $22000 $800 2012 44 1200 $24000 $750 Use the data from the table to answer the following questions: Calculate real GDP using prices from 2011. By what percent did real GDP grow? Calculate the value of the price index (GDP deflator) for 2012 using 2011 as the base year. By what percent did prices increase

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