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Previous question An economy produces.only apples and oranges. The base year is 2015, and the table gives the quantities Quantities 2015 2016 produced and the

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Previous question An economy produces.only apples and oranges. The base year is 2015, and the table gives the quantities Quantities 2015 2016 produced and the prices. Apples 120 320 Calculate real GDP in 2015 and 2016 expressed in base- year prices. Oranges 160 440 Prices 2015 2016 Apples $1.00 $2.00 Real GDP in 2015 expressed in base-year prices is Oranges $0.25 $4.00 Real GDP in 2016 expressed in base-year prices is $

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