# [Urgent] Economics - GDP

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(Quantity, Price)

2000
...Popcorn: (200,\$1)
....Novels: (50,\$20)
.....Shoes: (8,\$100)

2001
...Popcorn: (250,\$2)
....Novels: (30,\$25)
.....Shoes: (10,\$80)

If 2000 is the base year, what is the real GDP in 2001?

• [Urgent] Economics - GDP -

GDP in 2000 is P*Q using 2000 prices and quantities. SO GDP in 2000 is 200*1 + 50*20 + 8*100

real GDP in 2001 is P*Q using 2000 prices and 2001 quantities. so Real GDP01 = 250*1 + 30*20 + 10*100

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