In the country of Sealand, we estimate that changing the amo…
In the country of Sealand, we estimate that changing the amount of capital from $15 million to $16 million will increase real GDP from $3.5 million to $4.5 million. How would you expect real GDP to change if capital increase from $16 million to $17 million, if there was not change in technology or the number of hours worked?
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CPI Data Base Year (2025) 2031 Product Quantity Price Price Flash Drives 100 $0.50 $0.75 Street Tacos 200 2.00 2.50 Soccer Balls 10 20.00 21.00 Assume the market basket for the consumer price index has three products — 100 flash drives, 200 street tacos, and 10 soccer balls — with the listed values in 2025 and 2031 for price and quantity: The Consumer Price Index for 2031 equals
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