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The economy of Tuland produces only two products oranges and computer software. The following information is available for production and prices of Tuland's products for
The economy of Tuland produces only two products oranges and computer software. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of oranges 10 11 Quantity of computer software 10 20 Price of oranges $1.00 $1.05 Price of computer software $50.00 $45,00 Using above information, calculate the following values. Real GDP for 2009 using 2009 as base year equals $ . (Enter your response rounded to two decimal places.) Real GDP for 2009 using 2010 as base year equals $ . (Enter your response rounded to two decimal places.) Real GDP for 2010 using 2009 as base year equals $ . (Enter your response rounded to two decimal places.) Real GDP for 2010 using 2010 as base year equals $ . (Enter your response rounded to two decimal places.) GDP growth rate using 2009 as base year equals %. (Enter your response rounded to two decimal places.) GDP growth rate using 2010 as base year equals | %. (Enter your response rounded to two decimal places.) The arithmetic average of the two growth rates equals |%. (Enter your response rounded to two decimal places.) Next
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