# Economics

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Claculate REAL GDP GROSS DOMESTIC PRODUCT for each year (2005=100)

Year p q p q
2005 \$1 100 \$2 50
2006 \$2 150 \$3 100

• Economics -

Take a shot, what do you think. Hint: GDP is the sum of P*Q for each good. Hint 2: as 2005 is the base year, use 2005 prices for 2006 productions

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