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Using a New Base Year to Calculate Real GDP and Inflation. Using the data from the table below, answer the following questions using 2012 prices.

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Using a New Base Year to Calculate Real GDP and Inflation. Using the data from the table below, answer the following questions using 2012 prices. Quantities Produced Prices CDs Tennis Rackets Price per CD Price per Tennis Racket 2011 110 210 $22 $100 2012 120 230 $26 $120 Real GDP in 2011 using 2012 prices is $ . (Enter your response as an integer.)

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