hat produces only the following four goods shoes hamburgers

hat produces only the following four goods, shoes, hamburgers, shirts, and cotton. Further, assume that all of the coton s used to pro is used to pros 009 Statistics 2014 Statistics2015 Statistics Product Shoes Hamburgers Shirts Cotton Quantity Price Quantity 120 8.000 90 $50.00 853.00 50 30,00 10,000 80 PriceQuantityPrice 3.00 0 60 12.0000.70 100 $65.00 1353.50 65 25.00 100 $6000 5025.00 est penny) and the real GDP for 2015 equals s (round your answer to the nearest penny) d to two decimal places.)

Solution

Real GDP of 2015 = Current year quantities * Base year price.

= (50*100) + (3*135) + (30*65) + (0.8*12,000) = $16,955.