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Now fill in the blanks in the following table by calculating real output using the information as given and the percentage growth of real GDP
Now fill in the blanks in the following table by calculating real output using the information as given and the percentage growth of real GDP as you did above. Round all answers to two decimal places. Calculation of real output with base year = Year 1 Year 1 Guns Butter Year 2 Guns Butter Percentage growth of real GDP = D% Current quantities 38 units 24 units 50 units 24 units Base-year prices x $80.00 x $1.65 Total x $80.00 x $1.65 Total Calculation of real output with base year = Year 2 Year 1 Guns Butter Year 2 Guns Butter Percentage growth of real GDP = D% Current quantities 38 units 24 units 50 units 24 units Base-year prices x $126.00 x $2.20 Total x $126.00 x $2.20 Total Real GDP $3,040.00 $39.60 $3,079.60 | s[_| | Real GDP s 5| s $6,300.00 $52.80 $6,352.80
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