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Suppose a country produces only textbooks. Using the info in the table below answer the following questions. Year Quantity Price Price Index 2009 375 $208

Suppose a country produces only textbooks. Using the info in the table below answer the following questions.

Year

Quantity

Price

Price Index

2009

375

$208

100

2010

405

$220

2011

420

$260

2012

450

$280

  1. What is the price index for year 2011 (only answer for this year).
  2. What is the nominal and real GDP for year 2011 (only answer for this year).
  3. If nominal GDP doubled since last year, but the quantity produced stayed the same, what would happen to the Real GDP for those two years.

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