For the following questions, suppose an economy produces only food and clothing, and that price and quantity data are given in the table below.

-Suppose that Year 1 is the base year. What is the growth rate of GDP?
A) 35%
B) 55%
C) 70%
D) 110%

Question

For the following questions, suppose an economy produces only food and clothing, and that price and quantity data are given in the table below.

-Suppose that Year 1 is the base year. What is the growth rate of GDP?
A) 35% 
B) 55% 
C) 70% 
D) 110%

Quizplus · Accepted Answer

The Answer of For the following questions, suppose an economy produces only food and clothing, and that price and quantity data are given in the table below.

-Suppose that Year 1 is the base year. What is the growth rate of GDP?
A) 35% 
B) 55% 
C) 70% 
D) 110%

For the Following Questions, Suppose an Economy Produces Only Food