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Suppose that in Year 1, an economy has 32 pax and produces 180 T-shirts that sell for P180 each and 220 Jeans that sell for
Suppose that in Year 1, an economy has 32 pax and produces 180 T-shirts that sell for P180 each and 220 Jeans that sell for P300 each.The following year,the economy has 3 additional pax and produces 230 T-shirts that sell for P250 each and 270 Jeans that sell for P375 each.Assuming that Year 1 is the base year, the constant GDP of Year 2 is:
P122,400
P124,200
P480
P500
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