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

-What is approximately the growth rate of real GDP using base year 1?
A) 13%
B) 20%
C) 33%
D) 39%

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.

-What is approximately the growth rate of real GDP using base year 1?
A) 13% 
B) 20% 
C) 33% 
D) 39%

Quizplus · Accepted Answer

The growth rate of real GDP using base year 1 is approximately 13%.

For the Following Questions, Suppose an Economy Produces Only Food