Suppose the information in the following table is for a simple economy that produces only the...

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Cotton is an intermediate good. Thus, it can not be included in GDP calculation because all of the cotton is used to produce shirts Real GDP Base year price *current year quantity Real GDP for 2018 $7,675.00(50*100)+(2.5*110)+40*60) Real GDP for 2019 $8,712.50 (50*100)+(2.5*125)+40*85)

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