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Consider an economy that produces only two goods, soft drinks and hamburgers

Economics

Consider an economy that produces only two goods, soft drinks and hamburgers. The following price and quantity statistics are available about this economy:

Year

Hamburgers

Soft Drinks

2015

Price = $2.00; Quantity = 2000

Price = $0.50; Quantity = 2000

2016

Price = $2.25; Quantity = 2000

Price = $0.50; Quantity = 2200

 

Taking 2015 as the base year, find the growth rate of the constant-price GDP in 2016. Round to the nearest whole percent and enter just the number with no symbols.

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