P1 Q1 P2 Q2
year 1 12 8 10 10
year 2 14 10 13 11
year 3 15 11 13 10
year 4 1...
P1 Q1 P2 Q2
year 1 12 8 10 10
year 2 14 10 13 11
year 3 15 11 13 10
year 4 15 11 14 9
Given the following iinformation about an economy able to produce only two goods, calculate nominal output, real output using year 2 as the base year, and the price index (implicit price deflator) also using year 2 as the base year. Show all work.
Answers: 2
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