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?

Expert Solution

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Rahul Sunny answered 2 years ago

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