Polonia produces two goods,X and Y.The quantity produced of the two goods and their prices in two different years are given in the table below:
a)Calculate the real GDP of Polonia in Year 2 taking Year 1 as the base year.
b)What is the growth rate of Polonia's real GDP between Year 1 and Year 2?
Definitions:
Corporate Interlocking
A situation where the board of directors of multiple corporations are shared among the same individuals, leading to potential conflicts of interest and a concentration of influence.
Horizontal Merger
Conventional merger between two firms in the same industry.
Bank of America
A multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina, known for offering banking, investing, asset management, and other financial and risk management products and services.
Trend Toward Bigness
Describes the economic phenomenon where companies and organizations grow larger, often through mergers, acquisitions, or increased market share, affecting competition and market dynamics.
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