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 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 _____%

 

Answer rating: 100% (QA)

1 Real GDP for 2009 using 2009 as base year 450 Working 200... View the full answer