Assume that in year 1 an economy produces 1000 units of, Ask an Expert

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Assume that in year 1 an economy produces 1000 units of output and they sell for $100 a unit, on average. In year 2, the economy produces the same 1000 units of output, and sells it for $110 a unit, on average. Use year 1 prices to calculate real GDP in Year 1 and Year 2. What happened to real GDP between years 1 and 2? Why?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91722292

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