Business, 10.03.2020 00:27, maymuu4life

Consider a simple economy that produces two goods: pens and oranges. The following table shows the prices and quantities of the goods over a three-year period.

Pens Oranges
Price Quantity Price Quantity
2016 1 150 2 160
2017 2 135 4 230
2018 3 110 4 165

Use the information from the preceding table to prepare real GDP and nominal GDP.

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Consider a simple economy that produces two goods: pens and oranges. The following table shows the p...