The Table Shows The Quantities Produced And Prices In 2015 And 2016 For An Island Economy Which Produces Only Mangoes An 1 (16.68 KiB) Viewed 46 times
The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only mangoes and pineapples. The base year is 2016. Calculate real GDP in 2015 and 2016 using the chained-dollar method. In terms of what dollars is each of these two real GDPs measured?
In 2015 Item Price Mangoes Pineapples Quantity 93 boxes 50 boxes $7 a box $9 a box In 2016 Item Mangoes Pineapples Quantity 106 boxes 67 boxes Price $10 a box $9 a box
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