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Price in Quantity Price in Quantity Price In Quantity Product 2013 in 2013 2014 In 2014 2015 in 2015 Loaf of Bread $1.50 1,000 $2.00
Price in Quantity Price in Quantity Price In Quantity Product 2013 in 2013 2014 In 2014 2015 in 2015 Loaf of Bread $1.50 1,000 $2.00 1,100 $3.00 1,050 Gasoline $3.00 15,000 $3.50 16,000 $2.30 16,250 Movie Ticket $10.00 500 $12.00 600 $13.00 650 Assume the table above shows annual production data for a country. Use the table above to answer the following questions. 1. Calculate the Nominal GDP for 2013, 2014, and 2015. 2. Calculate the Real GDP for 2013, 2014, and 2015: You can assume 2013 is the Base Year. 3. Calculate the Growth Rate of Real GDP from 2013-2014 and 2014 - 2015
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