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need the anser to this intro to econ question Question 1 Not yet answered Marked out of 5.00 '7 Flag question The economy of New

need the anser to this intro to econ question

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Question 1 Not yet answered Marked out of 5.00 '7 Flag question The economy of New Zealand produces three goods: phones, apples, and shirts. The table given below shows the output and prices for the years 2006 and 2007. Year Phones Phones Apples Apples Shirt Shirt Price Qty Price Qty Price Qty 2006 100 1 10 8 5 4 2007 110 1 12 10 4 5 1. Using 2006 as the base year, calculate the real GDP for 2007. 2. Compute the real rate of output growth from 2006 to 2007. In your answers, you do not need to show your calculations, but you need to put down the \"formula" you use for your calculations

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