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Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton.
Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. 2011 2012 2013 Product Quantity Price Quantity Price Quantity Price Textbooks 90 $50 100 $60 100 $65 Hamburgers 75 2 100 2 120 2.25 Shirts 50 30 50 25 65 25 Cotton 100 0.80 800 0.60 120 0.70 Please enter only numbers (no commas, dollar signs etc) in the spaces provided. Calculate the growth rate in real GDP for 2012. (Using 1 decimal place). % Calculate the growth rate in real GDP for 2013. (Using 1 decimal place). % Calculate the cost of the market basket for 2011. (using 1 decimal place). Calculate the cost of the market basket for 2012. (using 1 decimal place). Calculate the cost of the market basket for 2013. (using 1 decimal place)
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