Answer to Question #225699 in Macroeconomics for Massi

Question

In the text, we calculated the change in real GDP in the hypothetical economy of Table 2-3 ,
using the prices of 2005. Calculate the change in real GDP between 2005 and 2010 using
the same data but the prices of 2010 . Your answer should demonstrate that the prices that
are used to calculate real GDP do affect the calculated growth rate, but typically not by
very much.

Answer 1

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