Question: Multiple Choice Question Below are the prices and output for three years. Using Year 1 as the base year, what is the real GDP for

Multiple Choice Question Below are the prices and output for three

Multiple Choice Question Below are the prices and output for three years. Using Year 1 as the base year, what is the real GDP for Year 2? Year 1 Year 2 Year 3 Item Price Quantity Price Quantity Price Quantity Ice Cream $5 10 $6 12 $7 9 Sweaters $40 5 $50 4 $60 5 Shoes $100 3 $105 3 $110 4 O $450 O $587 O $625 O $520

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