Table 8-10 Year 2010 2014 Oranges Produced 1,800 2,000 Price of Oranges $0.90 1.00 Shirts Produced Price of Shirts $30.00 110 110 35.00 Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts. Base Year=2010 27) Refer to Table 8-10. Find Real GDP for Vicuna for 2014.
Table 8-10 Year 2010 2014 Oranges Produced 1,800 2,000 Price of Oranges $0.90 1.00 Shirts Produced Price of Shirts $30.00 110 110 35.00 Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts. Base Year=2010 27) Refer to Table 8-10. Find Real GDP for Vicuna for 2014.
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 4SQ
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Transcribed Image Text:Table 8-10
Year
2010
2014
Oranges
Produced
=
1,800
2,000
Price of
Oranges
$0.90
1.00
Shirts Produced Price of Shirts
$30.00
110
110
Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts.
Base Year 2010
35.00
27) Refer to Table 8-10. Find Real GDP for Vicuna for 2014.
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