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1. (GDP related question). Use the following data to answer the following questions 2 An
economy produces only T-shirt and Wheat. The base year is 2011, and the table gives the
quantities produced and the prices. (i) Calculate nominal GDP in 2011 and 2012 (ii) Calculate
real GDP in 2011 and 2012 expressed in base year prices (iii) Calculate Chain dollar GDP
growth rate

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