Suppose the information in the following table is for a

Last updated: 8/16/2023

Suppose the information in the following table is for a simple economy that produces only the following four goods shoes hamburgers shirts and cotton Further as that all of the cotton is used to produce shirts 2012 Statistics Quantity 110 75 60 10 000 2022 Statistics Quantity Price 55 00 2 00 35 00 0 08 Product Shoes Hamburgers Shirts Cotton a If the base year is the year 2012 then real GDP for 2022 equals round your answer to the nearest penny 120 100 55 8 000 2023 Statistics Quantity Price 75 00 2 25 30 00 0 07 Price 70 00 2 00 30 00 0 06 120 120 75 12 000