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thumb-up by answering in 1 hour providing steps, calculations and clear answers Question 2 (12 marks) Consider an economy that produces two types of fruit:

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Question 2 (12 marks) Consider an economy that produces two types of fruit: Apples and Pineapples. The production and price data in Year 1 and 2 are as follows: Year 1 2 Quantity Price Quantity Price Apples 8,000 $4 10,000 $3 Pineapples 6,000 $8 5,000 $14 a. Using Year 1 as the base year, what is the growth rate of real GDP from Year 1 to Year 2? b. Based on the GDP deator, what is the ination rate from Year 1 to Year 2

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