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Question: base year 10 widgets were produced and sold at a...

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Base Year: 10 widgets were produced and sold at a price of $4 each and 5 peaches were produced and sold at a price of $2 each.

Year K: 12 widgets were produced and sold at a price of $5 each, and 4 peaches were produced and sold at a price of $2.25 each.

a) what was real GDP in Year K?

b) What was the growth or real GDP between the base year and Year K?

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