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Question: suppose the information in the following table is for a...

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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, assume that all of the cotton is used to produce shirts. 2009 Statistics Quantity Price Quantity 2018 Statistics 2019 Statistics Product Shoes Hamburgers Shirts Cotton 110 $55.00 3.00 70 40.00 0.90 120 60 12,000 120 $70.00 3.00 35.00 0.75 Price Quantity Price 120 $75.00 3.50 85 35.00 0.80 85 135 12,000 13,000 a. f the base year is the year 2009, then real GDP for 2018 equals (round your answer to the nearest penny) and the real GDP for 2019 equals S(round your answer to the nearest penny). b. The (annual) growth rate of real GDP in 2019 is% (Enter your response as a percentage rounded to two decimal places.)

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