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Use the following information for questions #13, 14,15, and 16. In Year 1, Testland produced 5 pencils selling for $0.25 each and 10 scantrons selling
Use the following information for questions #13, 14,15, and 16. In Year 1, Testland produced 5 pencils selling for $0.25 each and 10 scantrons selling for $0.10 each. In Year 2, Testland produced 6 pencils selling for $0.25 and 12 scantrons selling for $0.15 Assume Year 2 is the base year. 13) Real GDP in Year 1 is a ) $2.25 b) $2.70 C) $2.75 $3.30 CPI in Year 1 is 75.25 81.82 100.00 122.22 15) Real GDP growth between Year 1 and Year 2 is 20.00% 22.22% 33.33% 46.47% CPI inflation between Year 1 and Year 2 is 20.00% 22.22% 33.33% 46.47%
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