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A Hypothetical Economy Produces Only Two Items: Maple Syrup and Trips

Question 52

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A hypothetical economy produces only two items: maple syrup and trips to a local tourist attraction.Calculate nominal GDP,real GDP,and the GDP deflator,and fill in the corresponding columns in the following table: A hypothetical economy produces only two items: maple syrup and trips to a local tourist attraction.Calculate nominal GDP,real GDP,and the GDP deflator,and fill in the corresponding columns in the following table:

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a.Nominal GDP = Sum of current prices × ...

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