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Suppose in year 1 and year 2, there are two products produced in a given economy, computers, and bread (there are no intermediate goods), price
Suppose in year 1 and year 2, there are two products produced in a given economy, computers, and bread (there are no intermediate goods), price and quantity data for which are given as the following: Computers Bread Year 1 quantity 20 10,000 Year 1 price $1000 $1.00 Year 2 quantity 25 12,000 Year 2 price $1500 $1.10 Show the following on your answer sheet. [1] Suppose that gC represents chain-weighted real GDP. Calculate 9c and show all steps of your derivation. [2] Calculate the percentage change in chain-weighted real GDP from year 1 to year 2, and round up your result (without any decimal). (Don't forget that after you finish answering all questions from this entire Part X, you need to upload your photographed/scanned answer in another (respective) assessment in eCIass. You can not upload those handwritten pages in this assessment). [3] To complete your answer to this question, enter only the numerical value of the percentage change in chain- weighted real GDP from year 1 to year 2 (that you calculated in the last step above) and enter the value in this blank here (no decimals please): |:|
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