Question: Consider the following data about an economy that makes pizzas, t-shirts, tires, and cheese. All the cheese in the economy is used to make pizzas.

Consider the following data about an economy that makes pizzas, t-shirts, tires, and cheese. All the cheese in the economy is used to make pizzas.

Product

Price 2010

Quantity 2010

Price 2015

Quantity 2015

Pizzas

$10

120

$12

110

T-shirts

$7

100

$8

90

Tires

$200

20

$200

18

Cheese

$1

200

$3

190

Real GDP for 2010 using 2010 as the base year is $

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