Consider the following data. Assume that the economy produces only frozen fish.
Calculate the growth rate of real GDP.
$$\begin{array} { | l | c | c | }
\hline & \begin{array} { c }
\text { Tons of Frozen } \
\text { Fish Sold }
\end{array} & \begin{array} { c }
\text { Actual } \
\text { Price }
\end{array} \
\hline \text { Last year } & 150 & \$ 1,500 \
\hline \text { This year } & 153 & \$ 1,576 \
\hline
\end{array}$$

Question

Consider the following data. Assume that the economy produces only frozen fish.
Calculate the growth rate of real GDP.
 $$\begin{array} { | l | c | c | } 
\hline & \begin{array} { c } 
\text { Tons of Frozen } \
\text { Fish Sold }
\end{array} & \begin{array} { c } 
\text { Actual } \
\text { Price }
\end{array} \
\hline \text { Last year } & 150 & \$ 1,500 \
\hline \text { This year } & 153 & \$ 1,576 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Consider the following data. Assume that the economy produces only frozen fish.
Calculate the growth rate of real GDP.
 $$\begin{array} { | l | c | c | } 
\hline & \begin{array} { c } 
\text { Tons of Frozen } \
\text { Fish Sold }
\end{array} & \begin{array} { c } 
\text { Actual } \
\text { Price }
\end{array} \
\hline \text { Last year } & 150 & \$ 1,500 \
\hline \text { This year } & 153 & \$ 1,576 \
\hline
\end{array}$$

Consider the Following Data