Calculate real GDP in 2022 expressed in base year prices. Tropical Republic produces only bananas and coconuts.
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Calculate real GDP in 2022 expressed in base year prices.
Tropical Republic produces only bananas and coconuts. The base year is 2021, and the table gives the quantities produced and the market prices.
Transcribed Image Text:
Quantities Bananas Coconuts Prices Bananas Coconuts 2021 800 bunches 400 bunches 2021 $2 a bunch $10 a bunch 2022 900 bunches 500 bunches 2022 $4 a bunch $5 a bunch
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