Suppose that in 2013, the economy produced 10 shirts at 20 each and 5 hamburgers at 5 each. In 2014, the economy produced 15 shirts at 21 each

Suppose that in 2013, the economy produced 10 shirts at 20 each and 5 hamburgers at 5 each. In 2014, the economy produced 15 shirts at 21 each


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  1. Suppose that in 2013, the economy produced 10 shirts at 20 each and 5 hamburgers at 5 each. In 2014, the economy produced 15 shirts at 21 each and 10 hamburgers at 6 each. What is the value of real GDP produced in 2014 using 2013 as the base year? What would be the growth in real GDP?

Suppose that in 2013, the economy produced 10 shirts at 20 each and 5 hamburgers at 5 each. In 2014, the economy produced 15 shirts at 21 each and 10 hamburgers at 6 each.

What is the value of real GDP produced in 2014 using 2013 as the base year?

(show how calculations was received)

What would be the growth inreal GDP?

Why is there unemployment even when the economy is at "full employment"? What are some "costs of unemployment"?

Use the table below:

Year

CPI

2008

100.0

2009

102.5

2010

106.0

2011...

Suppose that
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Answered by 1 year ago
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Suppose that in 2013, the economy produced 10 shirts at 20 each and 5 hamburgers at 5 each. In 2014, the economy produced 15 shirts at 21 each

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