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Refer to the following data, which shows output and prices for five years of an economy that produces just one product. Year Units of Output

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Refer to the following data, which shows output and prices for five years of an economy that produces just one product. Year Units of Output Price per unit 13 14 16 10 $7 If Year 3 is the base year, the price index for Year 4 is: 80 bj 120 c) 20% d) 1.2

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