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The table below has information on what an economy produced for two years. Butter Price of Year Guns Produced Price of Guns Produced Butter 2010

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The table below has information on what an economy produced for two years. Butter Price of Year Guns Produced Price of Guns Produced Butter 2010 350 $5 500 $4 2011 365 550 Calculate nominal GDP in each year and real GDP in each year. Then find the growth rate of both nominal GDP and real GDP Why are these numbers different? Briefly explain

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