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What is real gdp for 2020? What is real gdp fro 2021? What is annual growth rate percentage of gdp in 2021? Suppose the information

What is real gdp for 2020?

What is real gdp fro 2021?

What is annual growth rate percentage of gdp in 2021?

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Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, assume that all of the cotton is used to produce shirts. 2012 Statistics 2020 Statistics 2021 Statistics Product Quantity Price Quantity Price Quantity Price Shoes 100 $52.00 115 $65.00 110 $70.00 Hamburgers 75 2.00 100 2.00 120 2.25 Shirts 70 40.00 60 35.00 85 35.00 Cotton 11,000 0.09 10,000 0.08 11,000 0.07 a. If the base year is the year 2012, then real GDP for 2020 equals $|(round your answer to the nearest penny)

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