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Suppose that a very simple economy produces three goodspizzas, haircuts and backpacks. Suppose the quantities produced and their corresponding prices for 2015 and 2019 are

Suppose that a very simple economy produces three goodspizzas, haircuts and backpacks. Suppose the quantities produced and their corresponding prices for 2015 and 2019 are as shown in the table. Use the information in the table to compute nominal GDP in the year 2019. Calculate real GDP in 2019 assuming the base year is 2015. Compare and explain the two results

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