Use the information in the following table to calculate nominal and real GDP for 2005 and 2012.
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2005 2012 Product Quantity Price Quantity Price Oranges 400.50 4400.75 Plums Haircuts Pizza 0.50 30.00 8.00 85 10 70 0.60 32.00 8.25 60
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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