Question

In: Economics

                          Year 1                &n

                          Year 1                             Year 2

                 Quantity     Price          Quantity    Price

Oranges      100             $5                 150            $5

Pears           100             $3                   75            $4

a. What is the growth rate of constant-dollar real GDP using year 1 as the base year?

b. What is the growth rate of constant-dollar real GDP using year 2 as the base year?

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