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Suppose there are two goods in the economy with the prices and quantities each year shown in the table. Let 2021 be the base year.
Suppose there are two goods in the economy with the prices and quantities each year shown in the table. Let 2021 be the base year.
Year | P1 | Q1 | P2 | Q2 |
2020 | 2 | 10 | 3 | 5 |
2021 | 3 | 12 | 4 | 6 |
The 2021 growth rate in real GDP is
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