Polonia produces two goods,X and Y.The quantity produced of the two goods and their prices in two different years are given in the table below:

a)Calculate the real GDP of Polonia in Year 2 taking Year 1 as the base year.
b)What is the growth rate of Polonia's real GDP between Year 1 and Year 2?

Question

Polonia produces two goods,X and Y.The quantity produced of the two goods and their prices in two different years are given in the table below:
  
a)Calculate the real GDP of Polonia in Year 2 taking Year 1 as the base year.
b)What is the growth rate of Polonia's real GDP between Year 1 and Year 2?

Quizplus · Accepted Answer

The Answer of Polonia produces two goods,X and Y.The quantity produced of the two goods and their prices in two different years are given in the table below:
  
a)Calculate the real GDP of Polonia in Year 2 taking Year 1 as the base year.
b)What is the growth rate of Polonia's real GDP between Year 1 and Year 2?

Polonia Produces Two Goods,X and Y