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Hello, I'm having trouble with this question. I would greatly appreciate any help! Year Price Quantity Price Quantity (beach (sunglasses) (sunglasses) (beach towels) towels) 2004

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Hello, I'm having trouble with this question. I would greatly appreciate any help!

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Year Price Quantity Price Quantity (beach (sunglasses) (sunglasses) (beach towels) towels) 2004 $18 77 $12 91 2005 $30 96 $13 109 2006 $35 105 $16 140 Using the above data, calculate real GDP for 2004, 2005, and 2006 using the chain-weighted method. 2004 is the base year. The steps are shown on the left. Type your answers on the right in the boxes provided. All answers should be rounded to 2 decimal places. Nominal GDP2004 = as D Real GDP2004 = $1: Step 1: Nominal GDP2004 = $ D The value of 2005 production at 2004 prices = $ Step 1 growth rate =% Step 2: The value of 2004 production at 2005 prices = $ Nominal GDP 2005 = $ Step 2 growth rate =%\fStep 1: Nominal GDP $ 2005 = The value of 2006 production at 2005 prices = $ Step 1 growth rate = % Step 2: The value of 2005 production at 2006 prices = $li Nominal GDP 2006 = $ Step 2 growth rate =% Step 3: Average growth rate =% Step 4: Real GDP 2006 = $

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