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Thanks so much 1. Suppose an economy only produce computer and smart-phone and has the following data (10 marks): Year 2020 2021 Price Quantity Price

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1. Suppose an economy only produce computer and smart-phone and has the following data (10 marks): Year 2020 2021 Price Quantity Price Quantity Computer $20.00 10 $25.00 15 Smart-phone $10.00 20 $15.00 25 a. Compute the nominal GDP for the year 2020 and 2021. b. Compute the real GDP (base year = 2020) for the year 2020 and 2021

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