Business, 27.05.2021 14:00 22dpickr

Calculating Real GDP, Price Indices, and Inflation. Using the data from the table below, answer the following questions: Quantities Produced
Prices

CDs
Tennis Rackets
Price per CD
Price per Tennis Racket
2011
$
$
2012
$
$

Real GDP in 2011 using 2011 prices is $
24,360. (Enter your response as an integer.)
Real GDP in 2012 using 2011 prices is $
26,670. (Enter your response as an integer.)
Real GDP grew by
9.48 percent. (Enter your response as a percentage rounded to two decimal places.)
The price index for GDP (GDP Deflator) for 2012 using 2011 as the base year is
119.5. (Enter your response rounded to two decimal places.)
Prices increased by
19.5 percent. (Enter your response as a percentage rounded to two decimal places.)

Calculating Real GDP, Price Indices, and Inflation. Using the data from the table below, answer

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