The base year is 2012. Real GDP in 2012 was $15 trillion. The GDP price index in

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The base year is 2012. Real GDP in 2012 was $15 trillion. The GDP price index in 2019 was 105, and real GDP in 2019 was $16 trillion.

What was the percentage increase in production from 2012 to 2019, and by what percentage did the price level rise from 2012 to 2019?

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Foundations Of Economics

ISBN: 9780135897478

9th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Jan 06, 2023 05:26 AM

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The base year is 2012. Real GDP in 2012 was $15 trillion. The GDP price index in

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Foundations Of Economics

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