This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

The economy of Tuland produces only two products books and digital cameras. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of books 100 105 Quantity of digital cameras 10 15 Price of books $5.00 $5.25 Price of digital cameras $40.00 $24.00 Using above information, calculate the following

The economy of Tuland produces only two products books and digital cameras. The following information is available for production and prices of Tuland's products for the years 2009 and 2010.



20092010
Quantity of books100105
Quantity of digital cameras1015
Price of books$5.00$5.25
Price of digital cameras$40.00$24.00


Using above information, calculate the following values.

Round answer to 2 decimal places.

Real GDP for 2009 using 2009 as based year equals $ _____.

Real GDP for 2009 using 2010 as based year equals $ _____.

Real GDP for 2010 using 2009 as based year equals $ _____.

Real GDP for 2010 using 2010 as base year equals $ _____.

GDP growth rate using 2009 as based years equals _____%

GDP growth rate using 2010 as based year equals _____%

The arithmetic average of the two growth rates equals _____%

 

Related Book For  answer-question

Basic Business Statistics Concepts and Applications

12th edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

ISBN: 978-0132168380