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25-02-2024
Social Studies

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Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. Part 2 2012 Statistics 2020 Statistics 2021 Statistics Product Quantity Price Quantity Price Quantity Price Shoes 110 $55.00 120 $70.00 120 $75.00 Hamburgers 80 2.50 110 2.50 125 2.75 Shirts 60 35.00 55 30.00 75 30.00 Cotton 11 comma 000 0.09 10 comma 000 0.08 11 comma 000 0.07 Part 3 a. If the base year is the year 2012, then real GDPLOADING... for 2020 equals $ enter your response here (round your answer to the nearest penny)

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