Question
Question 1 - In 2025, Absurdia produces 1,000 trombones, 100,000 chicken pot pies, and 50,000 hours of trombone entertainment. The prices are $500, $10, and
Question 1 - In 2025, Absurdia produces 1,000 trombones, 100,000 chicken pot pies, and 50,000 hours of trombone entertainment. The prices are $500, $10, and $20 respectively. Compute Absurdia's 2025 Gross Domestic Product.
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Question 2 - Referring to the previous question, how would a doubling of the price of Chicken Pot Pies affect Gross Domestic Product? What about Real Gross Domestic Product? Fully explain your response.
Please help me out! This is for my general Econ class. I need help with question 1 and question 2 is an extension of question 1. Thank you!!
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