Chapter 7 – The Asset Market, Money, and Prices
Find real GDP in the current year (2005) and in the base year. By what percentage does real GDP increase from the base year to the current year (2004)? Real GDP Base Year = (1000)(1) + (2000)(3) + (600)(5) = 10,000 (Always the same as nominal GDP in the base year, so you really don’t have to … ................
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