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mars03 mars03
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A year ago
Scenario: A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The price of each unit of the good in Year 1 was $280 and it was $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP.


Refer to the scenario above. Real GDP of the country has grown by ________.

▸ 10 percent

▸ 5 percent

▸ 0.2 percent

▸ 20 percent
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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vicky12345vicky12345
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A year ago
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mars03 Author
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Thanks
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Helped a lot
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