Business, 11.06.2021 01:40 jilliankoch9794

In the Land of Milk and Honey, they produce two goods: Milk and Honey. In 2014, milk cost $2 a gallon and they produced 10 gallons. Honey cost $1 a pint and they produced 20 pints. In 2015, milk cost $2 a gallon and they produced 12 gallons. Honey cost $1 a pint and they produced 24 pints. In 2016, milk cost $2.50 a gallon and they produced 12 gallons. Honey cost $1.25 a pint and they produced 24 pints. The base year is 2015. Calculate real GDP in 2014. a. $20.
b. $40.
c. $48.
d. $60.
e. $80.
f. $100.
g. $125.

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In the Land of Milk and Honey, they produce two goods: Milk and Honey. In 2014, milk cost $2 a gallo...