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For the Following Question(s), Suppose an Economy Produces Only Pens

Question 31

Multiple Choice

For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table:
For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table: -What is approximately the growth rate of real GDP using base year 1? A) 13% B) 20% C) 33% D) 39% E) 25%
-What is approximately the growth rate of real GDP using base year 1?


A) 13%
B) 20%
C) 33%
D) 39%
E) 25%

Correct Answer:

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