The following data represents the output and price of the goods and services produced in the...
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The following data represents the output and price of the goods and services produced in the country of Florin in 2018, which specializes in the production of just three things. 2017 is the base year. Products haircuts 10 face wash prom dresses 2017 2017 2018 2018 Quantity Price Quantity Price 2 10 12 Production Data 14 17 8 6 3 5 6 5 Calculate Florin's nominal GDP for 2018. Do not include any decimals - whole number answers only. The following data represents the output and price of the goods and services produced in the country of Florin in 2018, which specializes in the production of just three things. 2017 is the base year. Products haircuts 10 face wash prom dresses 2017 2017 2018 2018 Quantity Price Quantity Price 2 10 12 Production Data 14 17 8 6 3 5 6 5 Calculate Florin's nominal GDP for 2018. Do not include any decimals - whole number answers only.
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To calculate Florins nominal GDP for 2018 we need to use the formula Nominal GDP Price of haircuts ... View the full answer
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