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Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further,
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produ ce shirts 2009 Statistics 2018 Statistics 2019 Statistics Product Shoes Hamburgers Shirts Cotton Quantity Price Quantity 90 $50.00 2.50 0 40.00 0.80 110 60 8,000 100 $60.00 2.50 35.00 0.60 Price Quantity Price 100 $65.00 2.75 8535.00 0.70 80 125 10,000 12,000 a. If the base year is the year 2009, then real GDP for 2018 equals S(round your answer to the nearest penny)
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